Allspring Global Investments Holdings LLC Decreases Stake in Vale S.A. $VALE

Allspring Global Investments Holdings LLC lessened its stake in Vale S.A. (NYSE:VALE) by 8.8% in the first quarter, HoldingsChannel.com reports. The firm owned 2,205,369 shares of the basic materials company’s stock after selling 212,939 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Vale were worth $35,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in shares of Vale by 4.9% during the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock worth $792,000 after acquiring an additional 3,704 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Vale by 46.6% during the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 11,964 shares during the last quarter. Empowered Funds LLC acquired a new position in Vale during the first quarter worth $171,000. Strs Ohio purchased a new stake in Vale during the first quarter worth $117,000. Finally, Sivia Capital Partners LLC acquired a new stake in Vale in the second quarter valued at $123,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analyst Ratings Changes

VALE has been the subject of a number of research analyst reports. Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and raised their price target for the company from $18.00 to $19.00 in a research report on Thursday, April 2nd. Wells Fargo & Company reduced their target price on Vale from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a report on Saturday. Scotiabank set a $19.00 price target on Vale in a research report on Monday, June 15th. Finally, UBS Group boosted their price target on Vale from $12.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Vale presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.54.

Vale Stock Performance

Shares of VALE opened at $14.20 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24. The company has a market capitalization of $64.47 billion, a price-to-earnings ratio of 21.20 and a beta of 0.46. The company’s 50 day simple moving average is $15.56 and its 200 day simple moving average is $15.76. Vale S.A. has a 1 year low of $9.36 and a 1 year high of $17.94.

Vale (NYSE:VALE) last announced its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The firm had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. On average, sell-side analysts predict that Vale S.A. will post 1.98 EPS for the current year.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.