Deltec Asset Management LLC Sells 100,000 Shares of Vale S.A. (NYSE:VALE)

Deltec Asset Management LLC cut its holdings in Vale S.A. (NYSE:VALE) by 83.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the basic materials company’s stock after selling 100,000 shares during the period. Deltec Asset Management LLC’s holdings in Vale were worth $234,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Advisors LLC lifted its stake in shares of Vale by 109.1% in the 1st quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock valued at $1,236,000 after acquiring an additional 52,906 shares during the last quarter. Marshall Wace LLP lifted its position in Vale by 395.3% in the second quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after purchasing an additional 5,707,969 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Vale during the first quarter valued at approximately $1,379,000. Itau Unibanco Holding S.A. grew its holdings in shares of Vale by 10.4% in the second quarter. Itau Unibanco Holding S.A. now owns 5,398,881 shares of the basic materials company’s stock worth $58,690,000 after purchasing an additional 508,100 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Vale by 49.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,642,469 shares of the basic materials company’s stock worth $42,544,000 after purchasing an additional 1,200,786 shares during the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VALE has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. Morgan Stanley dropped their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. UBS Group cut their target price on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Finally, StockNews.com began coverage on Vale in a research report on Friday, October 18th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.15.

Vale Price Performance

VALE opened at $10.90 on Wednesday. Vale S.A. has a 12-month low of $9.66 and a 12-month high of $16.08. The company has a market cap of $48.84 billion, a price-to-earnings ratio of 6.02, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $10.78 and a two-hundred day simple moving average of $11.26.

Vale (NYSE:VALE) last issued 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 23.07% and a return on equity of 22.23%. The company had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same period last year, the business earned $0.66 EPS. Research analysts predict that Vale S.A. will post 2.06 earnings per share for the current fiscal year.

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.