15,000 Shares in Vale S.A. $VALE Purchased by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. acquired a new position in shares of Vale S.A. (NYSE:VALE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,000 shares of the basic materials company’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Vale by 34.3% during the 1st quarter. Principal Financial Group Inc. now owns 199,736 shares of the basic materials company’s stock valued at $1,993,000 after purchasing an additional 50,963 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Vale by 21.3% during the first quarter. Envestnet Asset Management Inc. now owns 902,300 shares of the basic materials company’s stock worth $9,005,000 after purchasing an additional 158,194 shares during the last quarter. Allworth Financial LP increased its stake in shares of Vale by 233.7% in the first quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company’s stock valued at $53,000 after buying an additional 3,810 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Vale by 26.0% in the first quarter. Cerity Partners LLC now owns 21,066 shares of the basic materials company’s stock valued at $210,000 after buying an additional 4,344 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Vale by 13.9% in the first quarter. Ballentine Partners LLC now owns 40,760 shares of the basic materials company’s stock valued at $407,000 after buying an additional 4,988 shares during the last quarter. 21.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VALE shares. Hsbc Global Res upgraded shares of Vale to a “strong-buy” rating in a research report on Friday, October 17th. Jefferies Financial Group set a $15.00 price target on shares of Vale and gave the company a “buy” rating in a report on Monday, November 3rd. HSBC boosted their price objective on shares of Vale from $12.25 to $13.50 and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings upgraded Vale from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price for the company in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.55.

Vale Stock Down 0.7%

Shares of Vale stock opened at $12.15 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48. Vale S.A. has a 12 month low of $8.06 and a 12 month high of $12.40. The business has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $10.21. The stock has a market cap of $55.13 billion, a PE ratio of 9.87 and a beta of 0.82.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14. Vale had a return on equity of 18.14% and a net margin of 14.23%.The firm had revenue of $10.42 billion for the quarter, compared to analyst estimates of $10.39 billion. Research analysts predict that Vale S.A. will post 1.85 EPS for the current year.

About Vale

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.