Pictet Asset Management SA Lowers Stock Holdings in Vale S.A. (NYSE:VALE)

Pictet Asset Management SA lowered its stake in shares of Vale S.A. (NYSE:VALEGet Rating) by 1.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 231,106 shares of the basic materials company’s stock after selling 2,800 shares during the period. Pictet Asset Management SA’s holdings in Vale were worth $3,381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its position in Vale by 10.4% in the first quarter. Park Avenue Securities LLC now owns 20,665 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,944 shares during the period. JFS Wealth Advisors LLC lifted its position in Vale by 319.3% in the first quarter. JFS Wealth Advisors LLC now owns 2,059 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,568 shares during the period. Calamos Advisors LLC acquired a new stake in Vale in the first quarter valued at about $2,459,000. State of New Jersey Common Pension Fund D lifted its position in Vale by 3.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 689,520 shares of the basic materials company’s stock valued at $13,783,000 after purchasing an additional 25,571 shares during the period. Finally, Scott & Selber Inc. acquired a new stake in Vale in the first quarter valued at about $2,151,000. Hedge funds and other institutional investors own 19.78% of the company’s stock.

Analyst Upgrades and Downgrades

VALE has been the subject of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Vale from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $16.00 in a research report on Monday, September 12th. StockNews.com started coverage on shares of Vale in a research report on Thursday, October 27th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Vale from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. BMO Capital Markets reduced their price target on shares of Vale from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. Finally, Itaú Unibanco downgraded shares of Vale to a “market perform” rating and set a $15.00 price target for the company. in a research report on Wednesday, August 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.41.

Vale Stock Down 1.7 %

VALE stock opened at $15.07 on Monday. The stock has a market capitalization of $69.19 billion, a P/E ratio of 3.50, a PEG ratio of 1.38 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.67 and a current ratio of 1.07. Vale S.A. has a one year low of $11.42 and a one year high of $21.29. The company has a 50 day moving average price of $13.76 and a two-hundred day moving average price of $14.27.

Vale (NYSE:VALEGet Rating) last released its earnings results on Thursday, October 27th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.60 by $0.38. The firm had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $10.13 billion. Vale had a net margin of 45.53% and a return on equity of 53.54%. As a group, sell-side analysts expect that Vale S.A. will post 2.94 EPS for the current year.

Vale Company Profile

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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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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