Employees Retirement System of Texas Acquires New Holdings in Vale S.A. $VALE

Employees Retirement System of Texas acquired a new stake in shares of Vale S.A. (NYSE:VALE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 170,991 shares of the basic materials company’s stock, valued at approximately $2,228,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in Vale by 77.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,809,302 shares of the basic materials company’s stock worth $271,145,000 after acquiring an additional 9,103,727 shares during the period. Aberdeen Group plc grew its holdings in Vale by 2.4% during the fourth quarter. Aberdeen Group plc now owns 2,838,991 shares of the basic materials company’s stock worth $36,992,000 after acquiring an additional 66,896 shares during the period. Surience Private Wealth LLC acquired a new position in Vale during the fourth quarter worth about $2,218,000. Euro Pacific Asset Management LLC grew its holdings in Vale by 575.2% during the fourth quarter. Euro Pacific Asset Management LLC now owns 488,718 shares of the basic materials company’s stock worth $6,368,000 after acquiring an additional 416,339 shares during the period. Finally, Caprock Group LLC acquired a new position in Vale during the third quarter worth about $2,352,000. 21.85% of the stock is currently owned by institutional investors.

Insider Activity

In other Vale news, insider Parenti Grazielle Tallia bought 10,464 shares of the stock in a transaction on Wednesday, April 1st. The shares were bought at an average price of $16.11 per share, with a total value of $168,575.04. Following the purchase, the insider directly owned 10,464 shares in the company, valued at $168,575.04. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sobrinho Sami Arap bought 12,990 shares of the stock in a transaction on Wednesday, April 1st. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $209,268.90. Following the purchase, the vice president owned 12,990 shares in the company, valued at approximately $209,268.90. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Vale Trading Down 0.1%

Shares of VALE opened at $16.48 on Thursday. The business’s 50-day moving average price is $16.34 and its 200 day moving average price is $15.10. The stock has a market capitalization of $74.82 billion, a P/E ratio of 24.60 and a beta of 0.46. Vale S.A. has a 1-year low of $8.97 and a 1-year high of $17.94. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE) last issued its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. Analysts expect that Vale S.A. will post 2.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Vale from $15.50 to $16.50 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 target price on shares of Vale in a report on Friday, May 15th. Morgan Stanley lifted their target price on Vale from $18.00 to $19.50 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Scotiabank lifted their target price on Vale from $16.50 to $18.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Vale from $18.50 to $19.50 and gave the stock an “overweight” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.65.

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.