Daiwa Securities Group Inc. Has $2.79 Million Stake in Vale S.A. (NYSE:VALE)

Daiwa Securities Group Inc. reduced its stake in shares of Vale S.A. (NYSE:VALE) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,994 shares of the basic materials company’s stock after selling 25,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Vale were worth $2,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SPX Gestao de Recursos Ltda raised its stake in shares of Vale by 60.6% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock valued at $245,404,000 after acquiring an additional 8,288,112 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Vale by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,906,975 shares of the basic materials company’s stock valued at $139,073,000 after purchasing an additional 53,061 shares during the period. Mondrian Investment Partners LTD lifted its stake in shares of Vale by 20.4% in the second quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company’s stock worth $118,815,000 after buying an additional 1,854,940 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Vale by 6.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after buying an additional 468,432 shares during the period. Finally, Marshall Wace LLP grew its stake in Vale by 395.3% in the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after buying an additional 5,707,969 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Stock Down 0.4 %

VALE opened at $9.86 on Thursday. Vale S.A. has a fifty-two week low of $9.66 and a fifty-two week high of $16.08. The company has a market capitalization of $44.20 billion, a P/E ratio of 4.56, a P/E/G ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The firm’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $10.98.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, analysts anticipate that Vale S.A. will post 2.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VALE. Morgan Stanley decreased their price target on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. Finally, Scotiabank dropped their target price on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.13.

Vale Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.