Vale S.A. $VALE Shares Newly Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in Vale S.A. (NYSE:VALE) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 72,429 shares of the basic materials company’s stock, valued at approximately $971,000.

A number of other institutional investors have also modified their holdings of the business. Bank of America Corp DE raised its stake in Vale by 119.9% during the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock worth $347,433,000 after acquiring an additional 11,905,247 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Vale in the first quarter valued at approximately $128,239,000. Arrowstreet Capital Limited Partnership boosted its stake in Vale by 15.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock valued at $762,848,000 after acquiring an additional 6,351,703 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in Vale by 1,302.4% in the first quarter. SPX Gestao de Recursos Ltda now owns 5,539,608 shares of the basic materials company’s stock valued at $88,135,000 after acquiring an additional 5,144,590 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Vale by 1,287.2% during the first quarter. Principal Financial Group Inc. now owns 5,262,015 shares of the basic materials company’s stock valued at $83,719,000 after purchasing an additional 4,882,675 shares during the last quarter. Institutional investors own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $16.00 price target on the stock in a report on Monday, October 19th. Wells Fargo & Company reduced their price objective on Vale from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 3rd. Bank of America downgraded Vale from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $16.00 in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on Vale from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Vale presently has a consensus rating of “Hold” and a consensus price target of $14.96.

Vale Stock Down 3.1%

VALE stock opened at $11.60 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. Vale S.A. has a fifty-two week low of $10.96 and a fifty-two week high of $17.94. The firm’s 50-day simple moving average is $13.37 and its 200 day simple moving average is $15.12. The stock has a market cap of $52.63 billion, a PE ratio of 8.37 and a beta of 0.50.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). Vale had a net margin of 1.64% and a return on equity of 16.54%. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.45 billion. As a group, sell-side analysts predict that Vale S.A. will post 1.56 EPS for the current year.

About Vale

Vale S.A. is a Brazilian mining and logistics company best known for producing iron ore and iron ore pellets, which are used in steelmaking. Its other products include nickel, copper, cobalt and manganese, serving customers in the steel, energy and technology industries. Founded in 1942 as Companhia Vale do Rio Doce, the company is headquartered in Rio de Janeiro. Its operations and projects span several countries, including Brazil, Canada and Indonesia. In addition to mining, Vale operates railways, ports and other logistics infrastructure that support the transportation of its products.