Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Vale S.A. (NYSE:VALE)

Sumitomo Mitsui Trust Group Inc. lessened its stake in Vale S.A. (NYSE:VALE) by 17.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 193,182 shares of the basic materials company’s stock after selling 41,308 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Vale were worth $1,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vale in the 3rd quarter worth approximately $28,000. Brooklyn Investment Group grew its stake in Vale by 215.9% in the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,900 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Vale in the 3rd quarter worth approximately $36,000. R Squared Ltd purchased a new position in Vale in the 4th quarter worth approximately $41,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Vale in the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Trading Up 0.1 %

NYSE:VALE opened at $9.57 on Friday. The company has a fifty day moving average of $9.07 and a 200 day moving average of $10.02. Vale S.A. has a 52 week low of $8.38 and a 52 week high of $13.77. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $43.42 billion, a P/E ratio of 4.43, a P/E/G ratio of 0.30 and a beta of 0.91.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Vale in a research note on Friday, December 13th. They issued a “buy” rating for the company. Scotiabank cut their price objective on shares of Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group cut their price objective on shares of Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wolfe Research raised shares of Vale from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley cut shares of Vale from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Vale currently has a consensus rating of “Hold” and an average price target of $13.26.

Vale Company 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.