Bank of New York Mellon Corp Trims Stock Position in Vale S.A. (NYSE:VALE)

Bank of New York Mellon Corp trimmed its position in Vale S.A. (NYSE:VALEFree Report) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,182 shares of the basic materials company’s stock after selling 42,964 shares during the period. Bank of New York Mellon Corp’s holdings in Vale were worth $1,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VALE. Sunbelt Securities Inc. purchased a new position in shares of Vale during the 1st quarter worth about $28,000. AdvisorNet Financial Inc lifted its holdings in shares of Vale by 44.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 835 shares during the period. Money Concepts Capital Corp purchased a new position in shares of Vale during the 4th quarter worth about $53,000. International Assets Investment Management LLC purchased a new position in shares of Vale during the 3rd quarter worth about $57,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Vale by 51.3% during the 4th quarter. Penserra Capital Management LLC now owns 4,763 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 1,615 shares during the period. 16.90% of the stock is currently owned by hedge funds and other institutional investors.

Vale Stock Up 2.1 %

VALE stock opened at $13.42 on Wednesday. Vale S.A. has a twelve month low of $12.22 and a twelve month high of $17.55. The company has a current ratio of 1.08, a quick ratio of 0.70 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $60.16 billion, a P/E ratio of 6.42 and a beta of 1.00. The firm has a 50 day simple moving average of $14.77 and a 200-day simple moving average of $14.09.

Analyst Ratings Changes

Several research analysts have recently weighed in on VALE shares. StockNews.com upgraded shares of Vale from a “buy” rating to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group raised shares of Vale from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.20 to $19.50 in a research report on Tuesday, November 21st. Citigroup raised shares of Vale from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a research report on Monday, October 30th. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, November 20th. Finally, Barclays dropped their target price on shares of Vale from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Read Our Latest Stock Analysis on VALE

Vale Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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