Principal Financial Group Inc. Makes New Investment in Vale S.A. (NYSE:VALE)

Principal Financial Group Inc. bought a new position in Vale S.A. (NYSE:VALE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 170,092 shares of the basic materials company’s stock, valued at approximately $2,073,000.

A number of other large investors have also added to or reduced their stakes in VALE. Versant Capital Management Inc purchased a new stake in shares of Vale during the first quarter worth about $26,000. Whittier Trust Co. grew its stake in shares of Vale by 423.1% during the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 1,578 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Vale during the fourth quarter worth about $31,000. Richardson Financial Services Inc. purchased a new stake in shares of Vale during the fourth quarter worth about $31,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Vale during the fourth quarter worth about $32,000. 21.85% of the stock is currently owned by institutional investors.

Vale Price Performance

Shares of VALE stock traded up $0.05 during trading hours on Friday, hitting $11.66. 10,329,227 shares of the company’s stock were exchanged, compared to its average volume of 25,803,102. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.41. The firm has a market cap of $52.27 billion, a P/E ratio of 6.36, a P/E/G ratio of 3.87 and a beta of 0.96. The firm has a 50 day moving average of $11.94 and a two-hundred day moving average of $12.94. Vale S.A. has a fifty-two week low of $10.99 and a fifty-two week high of $16.08.

Vale (NYSE:VALE) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.35 billion. Vale had a return on equity of 19.59% and a net margin of 18.72%. Sell-side analysts forecast that Vale S.A. will post 2.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VALE shares. Bank of America restated a “neutral” rating and set a $13.00 price target (down previously from $20.00) on shares of Vale in a research note on Tuesday, April 9th. Barclays upped their target price on Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Morgan Stanley dropped their target price on Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. dropped their target price on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.86.

Vale Company 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.