Vale S.A. $VALE Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. trimmed its stake in shares of Vale S.A. (NYSE:VALE) by 35.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 442,804 shares of the basic materials company’s stock after selling 243,070 shares during the period. SummitTX Capital L.P.’s holdings in Vale were worth $7,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Vale by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 28,913 shares of the basic materials company’s stock valued at $377,000 after purchasing an additional 632 shares in the last quarter. Chesapeake Capital Corp IL raised its stake in Vale by 0.9% in the 4th quarter. Chesapeake Capital Corp IL now owns 72,358 shares of the basic materials company’s stock valued at $943,000 after purchasing an additional 646 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Vale by 1.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 38,134 shares of the basic materials company’s stock worth $497,000 after buying an additional 675 shares in the last quarter. NewEdge Wealth LLC lifted its stake in Vale by 2.8% in the 1st quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 708 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Vale by 1.3% during the fourth quarter. Quadrant Capital Group LLC now owns 66,870 shares of the basic materials company’s stock worth $871,000 after buying an additional 853 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on VALE. Wall Street Zen lowered shares of Vale from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Bank of America raised Vale from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.00 to $19.00 in a research report on Thursday, April 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Vale in a research note on Wednesday, July 8th. Scotiabank cut their target price on shares of Vale from $19.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Monday, July 20th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $16.50 target price (down from $19.50) on shares of Vale in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.31.

Vale Stock Up 0.0%

Shares of NYSE:VALE opened at $14.79 on Monday. Vale S.A. has a 1-year low of $9.36 and a 1-year high of $17.94. The stock has a market cap of $67.15 billion, a P/E ratio of 22.08 and a beta of 0.46. The firm has a fifty day moving average price of $15.34 and a 200 day moving average price of $15.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79.

Vale (NYSE:VALE) last issued its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). Vale had a net margin of 7.21% and a return on equity of 21.10%. The company had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.53 billion. Sell-side analysts predict that Vale S.A. will post 1.91 EPS for the current year.

Vale Company Profile

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.