Daiwa Securities Group Inc. Sells 25,000 Shares of Vale S.A. (NYSE:VALE)

Daiwa Securities Group Inc. reduced its position in shares of Vale S.A. (NYSE:VALE) by 9.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 have also recently added to or reduced their stakes in VALE. Banco Santander S.A. increased its holdings in shares of Vale by 32.9% during the third quarter. Banco Santander S.A. now owns 382,082 shares of the basic materials company’s stock worth $4,463,000 after buying an additional 94,585 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Vale by 0.4% during the 3rd 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 in the last quarter. Advisors Asset Management Inc. raised its position in Vale by 15.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 238,220 shares of the basic materials company’s stock valued at $2,782,000 after purchasing an additional 32,462 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Vale during the third quarter worth approximately $4,606,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Stock Down 0.4 %

NYSE:VALE opened at $9.86 on Thursday. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The stock has a 50-day simple moving average of $10.72 and a 200 day simple moving average of $10.98. The company has a market cap of $44.20 billion, a PE ratio of 4.56, a PEG ratio of 0.27 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

VALE has been the subject of several research reports. UBS Group cut 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 research note on Monday, November 11th. Scotiabank cut 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. StockNews.com started coverage on shares of Vale in a research report on Friday, October 18th. They set a “buy” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. Finally, Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.