Numeric Investors LLC Cuts Holdings in VALE S.A. (VALE)
Numeric Investors LLC lowered its position in shares of VALE S.A. (NYSE:VALE) by 48.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,765,900 shares of the basic materials company’s stock after selling 1,667,200 shares during the quarter. Numeric Investors LLC’s holdings in VALE were worth $15,452,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its stake in VALE by 9.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 328,500 shares of the basic materials company’s stock valued at $2,874,000 after buying an additional 29,000 shares in the last quarter. Quantbot Technologies LP acquired a new stake in VALE during the second quarter valued at approximately $680,000. K2 Principal Fund L.P. acquired a new stake in VALE during the second quarter valued at approximately $613,000. Trilogy Global Advisors LP acquired a new stake in VALE during the second quarter valued at approximately $30,124,000. Finally, Lazard Asset Management LLC raised its stake in VALE by 17.6% during the second quarter. Lazard Asset Management LLC now owns 75,007 shares of the basic materials company’s stock valued at $656,000 after buying an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 9.57% of the company’s stock.
VALE S.A. (VALE) opened at 10.07 on Friday. The company has a market capitalization of $51.89 billion, a price-to-earnings ratio of 14.53 and a beta of 1.56. VALE S.A. has a 52 week low of $5.27 and a 52 week high of $11.72. The firm’s 50-day moving average price is $10.52 and its 200-day moving average price is $9.30.
VALE (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. VALE had a net margin of 11.01% and a return on equity of 16.74%. The firm had revenue of $7.24 billion during the quarter. On average, equities analysts expect that VALE S.A. will post $1.19 earnings per share for the current year.
Several brokerages have issued reports on VALE. Morgan Stanley began coverage on VALE in a research note on Monday, September 25th. They set a “weight” rating on the stock. BidaskClub cut VALE from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Sandler O’Neill upgraded VALE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Santander upgraded VALE from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, TheStreet cut VALE from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $9.81.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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