Sompo Asset Management Co. Ltd. Sells 1,670 Shares of Vale S.A. (NYSE:VALE)

Sompo Asset Management Co. Ltd. cut its holdings in Vale S.A. (NYSE:VALE) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,890 shares of the basic materials company’s stock after selling 1,670 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Vale were worth $256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VALE. Pacifica Partners Inc. bought a new position in Vale in the 2nd quarter valued at approximately $27,000. Lowe Wealth Advisors LLC bought a new position in Vale in the 2nd quarter valued at approximately $45,000. Phillips Wealth Planners LLC bought a new position in shares of Vale during the 3rd quarter valued at $118,000. Vawter Financial Ltd. bought a new position in shares of Vale during the 2nd quarter valued at $124,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Vale during the 2nd quarter valued at $125,000. 21.85% of the stock is owned by institutional investors.

Vale Stock Up 0.6 %

VALE stock opened at $10.02 on Monday. The stock has a market capitalization of $44.92 billion, a P/E ratio of 4.64, a P/E/G ratio of 0.27 and a beta of 0.94. The firm has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $11.02. 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 52 week low of $9.66 and a 52 week high of $16.08.

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

Analyst Ratings Changes

Several research firms have recently weighed in on VALE. Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. Scotiabank reduced their price objective on Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 20th. StockNews.com initiated coverage on Vale in a research note on Friday, October 18th. They issued a “buy” rating for the company. Finally, UBS Group lowered Vale from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Vale presently has a consensus rating of “Hold” and an average target price of $15.13.

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.