State of New Jersey Common Pension Fund D Increases Stock Position in Vale S.A. (NYSE:VALE)

State of New Jersey Common Pension Fund D increased its position in Vale S.A. (NYSE:VALE) by 63.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 793,898 shares of the basic materials company’s stock after purchasing an additional 308,679 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Vale were worth $7,042,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VALE. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Vale by 3,692.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock worth $212,576,000 after acquiring an additional 17,720,100 shares during the last quarter. Holocene Advisors LP purchased a new position in Vale in the 3rd quarter worth approximately $80,300,000. Itau Unibanco Holding S.A. raised its holdings in Vale by 123.4% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock worth $140,859,000 after acquiring an additional 6,660,933 shares during the last quarter. FMR LLC raised its holdings in Vale by 18.2% in the 3rd quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock worth $427,550,000 after acquiring an additional 5,635,167 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Vale by 106.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 9,721,066 shares of the basic materials company’s stock worth $86,226,000 after acquiring an additional 5,001,228 shares during the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Trading Up 0.5 %

NYSE:VALE opened at $9.81 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The firm has a market capitalization of $44.50 billion, a price-to-earnings ratio of 4.54, a price-to-earnings-growth ratio of 0.30 and a beta of 0.91. Vale S.A. has a one year low of $8.38 and a one year high of $13.76. The business has a fifty day moving average price of $9.08 and a 200-day moving average price of $9.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VALE shares. Barclays decreased their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered shares of Vale from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. Wolfe Research upgraded shares of Vale from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. UBS Group lowered shares of Vale from a “buy” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $11.50 in a research note on Monday, November 11th. Finally, StockNews.com started coverage on shares of Vale in a research note on Friday, December 13th. They set a “buy” rating for the company. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.26.

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.