Employees Retirement System of Texas Makes New Investment in Vale S.A. $VALE

Employees Retirement System of Texas purchased a new position in Vale S.A. (NYSE:VALE) during the 4th quarter, HoldingsChannel reports. The firm purchased 170,991 shares of the basic materials company’s stock, valued at approximately $2,228,000.

Other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in Vale in the 4th quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC increased its position in Vale by 60.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock worth $30,000 after buying an additional 1,030 shares during the period. Cornerstone Planning Group LLC increased its position in Vale by 15,360.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,072 shares during the period. Triumph Capital Management bought a new position in Vale in the 3rd quarter worth approximately $34,000. Finally, Huntington National Bank increased its position in Vale by 36.3% in the 3rd quarter. Huntington National Bank now owns 4,713 shares of the basic materials company’s stock worth $51,000 after buying an additional 1,256 shares during the period. 21.85% of the stock is owned by institutional investors.

Vale Trading Down 0.1%

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

Vale (NYSE:VALE) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share 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. On average, equities analysts expect that Vale S.A. will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VALE shares. Royal Bank Of Canada cut Vale from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $14.50 to $15.50 in a research report on Thursday, March 12th. Wall Street Zen upgraded Vale from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Scotiabank boosted their price objective on Vale from $16.50 to $18.00 and gave the company a “sector perform” rating in a research report on Wednesday. Zacks Research cut Vale from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $18.00 price objective on shares of Vale in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Vale presently has an average rating of “Moderate Buy” and a consensus target price of $16.65.

Insider Activity

In related news, VP Sobrinho Sami Arap bought 12,990 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were purchased at an average price of $16.11 per share, with a total value of $209,268.90. Following the completion of the purchase, the vice president owned 12,990 shares of the company’s stock, valued at $209,268.90. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parenti Grazielle Tallia bought 10,464 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was bought at an average cost of $16.11 per share, for a total transaction of $168,575.04. Following the purchase, the insider directly owned 10,464 shares of the company’s stock, valued at approximately $168,575.04. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

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.