Cloverfields Capital Group LP Sells 161,022 Shares of Vale S.A. $VALE

Cloverfields Capital Group LP trimmed its stake in Vale S.A. (NYSE:VALE) by 70.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,062 shares of the basic materials company’s stock after selling 161,022 shares during the period. Cloverfields Capital Group LP’s holdings in Vale were worth $861,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Vale during the 4th quarter valued at about $1,303,000. Wells Fargo & Company MN grew its stake in Vale by 31.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,362,919 shares of the basic materials company’s stock valued at $30,789,000 after purchasing an additional 559,470 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Vale during the 4th quarter valued at about $236,000. Lord Abbett & CO. LLC purchased a new stake in shares of Vale in the fourth quarter worth about $27,363,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Vale by 1.3% in 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 during the last quarter. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Trading Up 2.1%

NYSE:VALE opened at $15.68 on Friday. The firm has a market cap of $71.19 billion, a PE ratio of 23.41 and a beta of 0.46. 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 stock has a fifty day moving average price of $16.51 and a 200 day moving average price of $15.38. Vale S.A. has a 12-month low of $8.97 and a 12-month high of $17.94.

Vale (NYSE:VALE) last announced its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The business had revenue of $9.26 billion for 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%. Sell-side analysts anticipate that Vale S.A. will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Vale

In other news, insider Parenti Grazielle Tallia bought 10,464 shares of Vale stock in a transaction dated Wednesday, April 1st. The stock was acquired at an average cost of $16.11 per share, with a total value of $168,575.04. Following the acquisition, the insider owned 10,464 shares of the company’s stock, valued at approximately $168,575.04. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sobrinho Sami Arap bought 12,990 shares of Vale stock in a transaction dated Wednesday, April 1st. The stock was purchased at an average cost of $16.11 per share, with a total value of $209,268.90. Following the completion of the acquisition, the vice president directly owned 12,990 shares in the company, valued at approximately $209,268.90. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $19.00 in a research report on Thursday, April 2nd. JPMorgan Chase & Co. increased their price target on Vale from $19.50 to $21.00 and gave the company an “overweight” rating in a report on Friday. Barclays increased their price target on Vale from $15.50 to $16.50 and gave the company an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Wells Fargo & Company cut their target price on Vale from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Vale currently has an average rating of “Moderate Buy” and a consensus target price of $16.77.

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.