Pendal Group Ltd Raises Stake in Vale SA (VALE)

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Pendal Group Ltd raised its holdings in shares of Vale SA (NYSE:VALE) by 24.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 853,085 shares of the basic materials company’s stock after acquiring an additional 167,043 shares during the quarter. Pendal Group Ltd’s holdings in Vale were worth $12,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cookson Peirce & Co. Inc. grew its stake in shares of Vale by 0.9% in the third quarter. Cookson Peirce & Co. Inc. now owns 1,143,370 shares of the basic materials company’s stock valued at $16,968,000 after buying an additional 9,900 shares in the last quarter. Sensato Investors LLC grew its stake in shares of Vale by 421.9% in the second quarter. Sensato Investors LLC now owns 1,201,500 shares of the basic materials company’s stock valued at $15,403,000 after buying an additional 971,300 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Vale in the second quarter valued at $5,318,000. Pinebridge Investments L.P. grew its stake in shares of Vale by 226.9% in the second quarter. Pinebridge Investments L.P. now owns 1,919,899 shares of the basic materials company’s stock valued at $24,613,000 after buying an additional 1,332,613 shares in the last quarter. Finally, Investec Asset Management PTY Ltd bought a new position in shares of Vale in the second quarter valued at $20,962,000. 20.35% of the stock is owned by institutional investors.

Shares of VALE traded down $0.02 during midday trading on Wednesday, reaching $15.27. 112,560 shares of the stock were exchanged, compared to its average volume of 25,695,460. Vale SA has a twelve month low of $9.53 and a twelve month high of $16.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 1.65. The company has a market capitalization of $80.61 billion, a P/E ratio of 11.25 and a beta of 1.52.

Vale (NYSE:VALE) last posted its earnings results on Wednesday, October 24th. The basic materials company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. Vale had a return on equity of 17.87% and a net margin of 10.70%. The company had revenue of $9.54 billion during the quarter, compared to the consensus estimate of $8.97 billion. On average, equities research analysts predict that Vale SA will post 1.42 earnings per share for the current fiscal year.

VALE has been the subject of several analyst reports. Jefferies Financial Group raised shares of Vale from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, September 7th. Clarkson Capital raised shares of Vale from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 24th. BMO Capital Markets set a $16.00 target price on shares of Vale and gave the company a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research raised shares of Vale from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, August 29th. Finally, ValuEngine raised shares of Vale from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.13.

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About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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