Manning & Napier Advisors LLC Cuts Stock Position in Vale S.A. (NYSE:VALE)

Manning & Napier Advisors LLC lessened its holdings in Vale S.A. (NYSE:VALE) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,555 shares of the basic materials company’s stock after selling 25,546 shares during the period. Manning & Napier Advisors LLC’s holdings in Vale were worth $2,763,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in Vale by 1,816.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,516,334 shares of the basic materials company’s stock valued at $16,937,000 after purchasing an additional 1,437,200 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Vale by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 138,509 shares of the basic materials company’s stock valued at $1,547,000 after purchasing an additional 6,173 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Vale during the 2nd quarter valued at $429,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vale during the 2nd quarter valued at $5,360,000. Finally, SG Americas Securities LLC grew its holdings in Vale by 15.0% during the 3rd quarter. SG Americas Securities LLC now owns 250,952 shares of the basic materials company’s stock valued at $2,931,000 after purchasing an additional 32,734 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

Shares of NYSE:VALE opened at $9.40 on Friday. 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 S.A. has a fifty-two week low of $8.38 and a fifty-two week high of $13.89. The firm has a 50-day simple moving average of $9.15 and a 200 day simple moving average of $10.13. The company has a market cap of $39.76 billion, a PE ratio of 4.35, a P/E/G ratio of 0.27 and a beta of 0.92.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VALE. Scotiabank lowered their price target on shares of Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. StockNews.com began coverage on shares of Vale in a research report on Friday, December 13th. They issued a “buy” rating for the company. Barclays dropped their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. UBS Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, Morgan Stanley downgraded shares of Vale from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $14.50 to $11.30 in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Vale presently has an average rating of “Hold” and a consensus target price of $13.89.

Vale Profile

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.