Ritholtz Wealth Management increased its holdings in shares of Vale S.A. (NYSE:VALE – Free Report) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,160 shares of the basic materials company’s stock after buying an additional 33,285 shares during the period. Ritholtz Wealth Management’s holdings in Vale were worth $2,024,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Ballentine Partners LLC raised its stake in shares of Vale by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock worth $159,000 after buying an additional 987 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Vale by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after purchasing an additional 1,187 shares during the period. Pinnacle Associates Ltd. grew its holdings in Vale by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 1,375 shares during the period. Keynote Financial Services LLC grew its holdings in Vale by 13.5% during the third quarter. Keynote Financial Services LLC now owns 11,737 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 1,400 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Vale by 1.0% during the third quarter. Principal Financial Group Inc. now owns 158,561 shares of the basic materials company’s stock valued at $1,852,000 after purchasing an additional 1,494 shares during the period. 21.85% of the stock is owned by institutional investors.
Vale Stock Performance
Shares of VALE stock opened at $8.95 on Friday. The company’s fifty day simple moving average is $9.31 and its 200-day simple moving average is $10.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. Vale S.A. has a 12 month low of $8.38 and a 12 month high of $14.47.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on VALE. JPMorgan Chase & Co. decreased their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. Jefferies Financial Group decreased their price objective on shares of Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com assumed coverage on shares of Vale in a report on Friday, December 13th. They set a “buy” rating for the company. Scotiabank reduced their price target on shares of Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley cut shares of Vale from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.50 to $11.30 in a report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vale presently has an average rating of “Hold” and an average price target of $13.89.
Read Our Latest Stock Report on VALE
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.
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