Vale SA (VALE) Shares Sold by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. decreased its position in shares of Vale SA (NYSE:VALE) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 681,157 shares of the basic materials company’s stock after selling 288,060 shares during the period. Pictet Asset Management Ltd.’s holdings in Vale were worth $10,203,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of VALE. Fisher Asset Management LLC lifted its holdings in shares of Vale by 108.7% in the 3rd quarter. Fisher Asset Management LLC now owns 34,121,206 shares of the basic materials company’s stock valued at $506,359,000 after acquiring an additional 17,769,298 shares during the last quarter. FIL Ltd lifted its holdings in shares of Vale by 45.5% in the 3rd quarter. FIL Ltd now owns 8,216,693 shares of the basic materials company’s stock valued at $121,935,000 after acquiring an additional 2,571,338 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Vale by 482.3% in the 2nd quarter. Van ECK Associates Corp now owns 7,342,562 shares of the basic materials company’s stock valued at $94,132,000 after acquiring an additional 6,081,542 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Vale by 4.5% in the 2nd quarter. Northern Trust Corp now owns 6,562,834 shares of the basic materials company’s stock valued at $84,136,000 after acquiring an additional 282,867 shares during the last quarter. Finally, USS Investment Management Ltd lifted its holdings in shares of Vale by 4.8% in the 3rd quarter. USS Investment Management Ltd now owns 6,527,036 shares of the basic materials company’s stock valued at $96,829,000 after acquiring an additional 300,000 shares during the last quarter. Hedge funds and other institutional investors own 19.88% of the company’s stock.

VALE has been the subject of a number of analyst reports. Royal Bank of Canada downgraded shares of Vale from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $12.00 to $11.00 in a report on Monday, September 17th. Macquarie downgraded shares of Vale from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 25th. Zacks Investment Research downgraded shares of Vale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. ValuEngine downgraded shares of Vale from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Deutsche Bank set a $15.00 price objective on shares of Vale and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.41.

Shares of NYSE VALE opened at $13.14 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $70.96 billion, a price-to-earnings ratio of 9.73 and a beta of 1.53. Vale SA has a 1 year low of $10.64 and a 1 year high of $16.13.

Vale (NYSE:VALE) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The business had revenue of $9.54 billion during the quarter, compared to the consensus estimate of $8.97 billion. Vale had a net margin of 10.70% and a return on equity of 17.87%. On average, sell-side analysts predict that Vale SA will post 1.59 earnings per share for the current fiscal year.

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About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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