Summit Trail Advisors LLC Reduces Stock Position in Vale S.A. (NYSE:VALE)

Summit Trail Advisors LLC lessened its stake in Vale S.A. (NYSE:VALE) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,250 shares of the basic materials company’s stock after selling 4,807 shares during the period. Summit Trail Advisors LLC’s holdings in Vale were worth $388,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Banco Santander S.A. boosted its stake in shares of Vale by 32.9% in the 3rd 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in 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 acquiring an additional 53,061 shares during the period. Advisors Asset Management Inc. boosted its position in Vale by 15.8% in the third quarter. Advisors Asset Management Inc. now owns 238,220 shares of the basic materials company’s stock worth $2,782,000 after purchasing an additional 32,462 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake 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 valued at $92,868,000 after purchasing an additional 468,432 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of Vale during the 3rd quarter valued at about $4,606,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Trading Down 1.7 %

Shares of VALE stock opened at $9.90 on Wednesday. The stock has a fifty day simple moving average of $10.73 and a two-hundred day simple moving average of $10.98. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The firm has a market capitalization of $44.36 billion, a PE ratio of 4.58, a PEG ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91.

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

Analyst Ratings Changes

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