FIL Ltd Buys 10,443,564 Shares of Vale SA (NYSE:VALE)

FIL Ltd boosted its stake in Vale SA (NYSE:VALE) by 145.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,602,739 shares of the basic materials company’s stock after acquiring an additional 10,443,564 shares during the quarter. FIL Ltd owned 0.34% of Vale worth $229,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal London Asset Management Ltd. acquired a new position in Vale in the 4th quarter valued at about $1,108,000. Advisors Asset Management Inc. increased its position in Vale by 2.7% in the 4th quarter. Advisors Asset Management Inc. now owns 87,550 shares of the basic materials company’s stock valued at $1,155,000 after acquiring an additional 2,322 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Vale during the fourth quarter worth $563,000. Certified Advisory Corp increased its position in shares of Vale by 26.5% during the fourth quarter. Certified Advisory Corp now owns 12,921 shares of the basic materials company’s stock worth $170,000 after buying an additional 2,704 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Vale by 65.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,162,284 shares of the basic materials company’s stock worth $15,331,000 after purchasing an additional 460,688 shares during the period. 19.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of VALE traded up $0.01 during mid-day trading on Friday, reaching $13.44. The company’s stock had a trading volume of 13,852,900 shares, compared to its average volume of 27,759,029. The firm has a market capitalization of $70.49 billion, a PE ratio of 7.26, a PEG ratio of 1.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.21. Vale SA has a 52 week low of $10.89 and a 52 week high of $16.13. The stock’s fifty day moving average price is $12.62.

Vale (NYSE:VALE) last posted its quarterly earnings results on Friday, May 10th. The basic materials company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.09). Vale had a net margin of 10.03% and a return on equity of 23.20%. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $9.61 billion. As a group, sell-side analysts expect that Vale SA will post 1.87 EPS for the current fiscal year.

A number of research analysts have weighed in on VALE shares. Scotiabank lowered shares of Vale from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. ValuEngine raised shares of Vale from a “sell” rating to a “hold” rating in a research note on Monday, March 11th. BMO Capital Markets set a $13.00 price objective on shares of Vale and gave the company a “hold” rating in a research note on Monday, March 18th. Jefferies Financial Group set a $14.00 target price on shares of Vale and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada set a $10.00 target price on shares of Vale and gave the company a “sell” rating in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $14.08.

Vale Company 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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services; and provides related logistic services.

See Also: Intrinsic Value

Institutional Ownership by Quarter for Vale (NYSE:VALE)

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