Wellington Management Group LLP Increases Position in Vale S.A. (NYSE:VALE)

Wellington Management Group LLP increased its stake in Vale S.A. (NYSE:VALE) by 36.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,255,889 shares of the basic materials company’s stock after purchasing an additional 600,755 shares during the quarter. Wellington Management Group LLP owned 0.05% of Vale worth $26,349,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Ballentine Partners LLC increased its holdings in shares of Vale by 7.8% in the 3rd quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 987 shares in the last quarter. Legacy Capital Group California Inc. grew its stake in Vale by 6.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after acquiring an additional 1,154 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Vale by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after acquiring an additional 1,187 shares during the last quarter. IFG Advisory LLC grew its stake in Vale by 6.1% in the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Vale by 5.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock valued at $336,000 after acquiring an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Down 2.4 %

Shares of NYSE VALE opened at $9.25 on Friday. Vale S.A. has a 12-month low of $9.22 and a 12-month high of $16.08. The company has a market cap of $41.45 billion, a P/E ratio of 4.28, a P/E/G ratio of 0.27 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $10.33 and a 200 day moving average price of $10.73.

Vale (NYSE:VALE) last announced its quarterly 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. The firm had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a return on equity of 21.07% and a net margin of 22.59%. During the same period in the prior year, the firm earned $0.66 EPS. Research analysts anticipate that Vale S.A. will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VALE shares. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. StockNews.com began coverage on shares of Vale in a research note on Friday. They set a “buy” rating on the stock. UBS Group cut 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 note on Monday, November 11th. Scotiabank decreased their price target 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. Finally, Morgan Stanley cut shares of Vale from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.50 to $11.30 in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Vale presently has a consensus rating of “Hold” and a consensus price target of $14.38.

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.