State of New Jersey Common Pension Fund D Sells 203,216 Shares of Vale S.A. (NYSE:VALE)

State of New Jersey Common Pension Fund D lowered its stake in Vale S.A. (NYSE:VALE) by 29.5% during the third quarter, HoldingsChannel.com reports. The firm owned 485,219 shares of the basic materials company’s stock after selling 203,216 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Vale were worth $5,667,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Axxcess Wealth Management LLC bought a new stake in Vale in the third quarter valued at approximately $259,000. Keynote Financial Services LLC increased its position in shares of Vale by 13.5% in the 3rd quarter. Keynote Financial Services LLC now owns 11,737 shares of the basic materials company’s stock valued at $137,000 after buying an additional 1,400 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Vale by 17.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 135,925 shares of the basic materials company’s stock valued at $1,588,000 after buying an additional 20,157 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in Vale by 4.2% during the third quarter. Radnor Capital Management LLC now owns 58,099 shares of the basic materials company’s stock worth $679,000 after acquiring an additional 2,333 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Vale by 21.6% in the third quarter. QRG Capital Management Inc. now owns 65,556 shares of the basic materials company’s stock valued at $766,000 after acquiring an additional 11,653 shares during the period. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Stock Down 3.6 %

VALE stock opened at $10.21 on Tuesday. The company has a market cap of $45.77 billion, a price-to-earnings ratio of 4.73, a P/E/G ratio of 0.29 and a beta of 0.94. Vale S.A. has a twelve month low of $9.66 and a twelve month high of $16.08. The business has a 50 day moving average price of $10.81 and a two-hundred day moving average price of $11.19. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same period in the previous year, the company earned $0.66 earnings per share. Analysts anticipate that Vale S.A. will post 2.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on VALE. StockNews.com assumed coverage on Vale in a report on Friday, October 18th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Morgan Stanley lowered their target price on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Scotiabank cut their price target on Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th. Finally, UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $11.50 in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.83.

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.