Fisher Asset Management LLC Boosts Holdings in Vale S.A. (NYSE:VALE)

Fisher Asset Management LLC raised its holdings in Vale S.A. (NYSE:VALE) by 10.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,404,942 shares of the basic materials company’s stock after buying an additional 1,682,544 shares during the quarter. Fisher Asset Management LLC’s holdings in Vale were worth $203,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pacifica Partners Inc. acquired a new position in shares of Vale in the 2nd quarter valued at about $27,000. Lowe Wealth Advisors LLC acquired a new position in shares of Vale in the 2nd quarter valued at about $45,000. Phillips Wealth Planners LLC acquired a new position in shares of Vale in the 3rd quarter valued at about $118,000. Vawter Financial Ltd. acquired a new position in shares of Vale in the 2nd quarter valued at about $124,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Vale during the 2nd quarter worth approximately $125,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

VALE stock opened at $10.06 on Tuesday. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $45.10 billion, a PE ratio of 4.66, a P/E/G ratio of 0.27 and a beta of 0.94. The stock’s 50 day moving average is $10.75 and its two-hundred day moving average is $11.00.

Vale (NYSE:VALE) last issued its quarterly 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. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the business earned $0.66 EPS. Analysts predict that Vale S.A. will post 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

VALE has been the topic of several recent research reports. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. StockNews.com initiated coverage on Vale in a research report on Friday, October 18th. They set a “buy” rating on the stock. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Scotiabank reduced their price target on Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 20th. Finally, Morgan Stanley reduced their price target on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.13.

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. 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.