Keynote Financial Services LLC Increases Holdings in Vale S.A. (NYSE:VALE)

Keynote Financial Services LLC grew its holdings in shares of Vale S.A. (NYSE:VALE) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,737 shares of the basic materials company’s stock after acquiring an additional 1,400 shares during the period. Keynote Financial Services LLC’s holdings in Vale were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VALE. Cetera Advisors LLC boosted its holdings in Vale by 109.1% in the 1st quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock worth $1,236,000 after buying an additional 52,906 shares during the period. International Assets Investment Management LLC boosted its holdings in Vale by 1,680.0% in the 3rd quarter. International Assets Investment Management LLC now owns 242,514 shares of the basic materials company’s stock worth $2,833,000 after buying an additional 228,890 shares during the period. Marshall Wace LLP boosted its holdings in Vale by 395.3% in the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after buying an additional 5,707,969 shares during the period. Virtu Financial LLC bought a new position in Vale in the 1st quarter worth $1,379,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in Vale by 10.4% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 5,398,881 shares of the basic materials company’s stock worth $58,690,000 after buying an additional 508,100 shares during the period. Institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on VALE shares. Morgan Stanley decreased their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. StockNews.com assumed coverage on shares of Vale in a research report on Friday, October 18th. They set a “buy” rating on the stock. Scotiabank reduced their price objective on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.17.

Vale Price Performance

NYSE VALE opened at $11.21 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The firm’s 50 day moving average price is $10.79 and its 200-day moving average price is $11.22. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a market cap of $50.26 billion, a PE ratio of 5.19, a P/E/G ratio of 0.29 and a beta of 0.94.

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

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.