Comerica Bank increased its holdings in Vale (NYSE:VALE) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,058 shares of the basic materials company’s stock after buying an additional 13,182 shares during the quarter. Comerica Bank’s holdings in Vale were worth $4,067,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Vale by 54.5% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17,000 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 6,000 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Vale by 43.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 20,335 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 6,126 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Vale by 49.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,592 shares of the basic materials company’s stock valued at $312,000 after purchasing an additional 8,517 shares in the last quarter. Certified Advisory Corp bought a new position in Vale during the 4th quarter valued at $116,000. Finally, Rational Advisors LLC bought a new position in Vale during the 4th quarter valued at $122,000. 19.03% of the stock is owned by institutional investors and hedge funds.
VALE has been the subject of a number of research reports. Bank of America initiated coverage on Vale in a research note on Wednesday, March 28th. They set a “buy” rating and a $16.50 price target for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Vale in a research note on Friday, March 2nd. Royal Bank of Canada set a $16.00 price target on Vale and gave the company a “buy” rating in a research note on Tuesday, April 3rd. TheStreet lowered Vale from a “b-” rating to a “c+” rating in a research note on Tuesday, March 13th. Finally, Zacks Investment Research lowered Vale from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 29th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.63.
Vale (NYSE:VALE) last released its quarterly earnings data on Wednesday, April 25th. The basic materials company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.60 billion. Vale had a return on equity of 14.89% and a net margin of 13.53%. equities research analysts forecast that Vale will post 1.46 earnings per share for the current fiscal year.
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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