Candriam Luxembourg S.C.A. Sells 32,450 Shares of Vale SA (NYSE:VALE)

Candriam Luxembourg S.C.A. trimmed its stake in shares of Vale SA (NYSE:VALE) by 75.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,710 shares of the basic materials company’s stock after selling 32,450 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Vale were worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Invesco Ltd. increased its holdings in Vale by 52.9% in the first quarter. Invesco Ltd. now owns 55,314,396 shares of the basic materials company’s stock worth $458,556,000 after purchasing an additional 19,133,256 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Vale by 2.9% in the first quarter. Baillie Gifford & Co. now owns 30,536,600 shares of the basic materials company’s stock worth $253,148,000 after purchasing an additional 858,400 shares in the last quarter. Deutsche Bank AG increased its holdings in Vale by 143.8% in the first quarter. Deutsche Bank AG now owns 4,371,708 shares of the basic materials company’s stock worth $36,241,000 after purchasing an additional 2,578,478 shares in the last quarter. APG Asset Management N.V. increased its holdings in Vale by 86.0% in the first quarter. APG Asset Management N.V. now owns 3,403,232 shares of the basic materials company’s stock worth $28,213,000 after purchasing an additional 1,573,500 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Vale in the first quarter worth approximately $25,901,000. Institutional investors and hedge funds own 17.27% of the company’s stock.

VALE has been the subject of a number of research reports. Societe Generale reissued a “buy” rating on shares of Vale in a research note on Thursday, April 23rd. UBS Group raised Vale from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $13.00 to $12.00 in a research note on Wednesday, June 3rd. Deutsche Bank raised their price objective on Vale from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. BNP Paribas raised Vale from a “neutral” rating to an “outperform” rating in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Vale from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $13.73.

Shares of NYSE:VALE opened at $11.64 on Friday. The business’s 50 day moving average is $10.84 and its 200 day moving average is $10.07. The stock has a market cap of $59.69 billion, a price-to-earnings ratio of 291.07 and a beta of 1.06. Vale SA has a 12-month low of $6.49 and a 12-month high of $13.67. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.53.

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. 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.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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