Investment Centers of America Inc. grew its position in shares of VALE S.A. (NYSE:VALE) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,089 shares of the basic materials company’s stock after buying an additional 748 shares during the quarter. Investment Centers of America Inc.’s holdings in VALE were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of VALE. Raymond James Trust N.A. boosted its holdings in VALE by 8.4% in the second quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 893 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in VALE by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 84 shares during the last quarter. Baldwin Investment Management LLC boosted its holdings in VALE by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 36 shares during the last quarter. Private Advisor Group LLC purchased a new stake in VALE in the second quarter worth approximately $127,000. Finally, HRT Financial LLC purchased a new stake in VALE in the first quarter worth approximately $132,000. Hedge funds and other institutional investors own 9.57% of the company’s stock.
Shares of VALE S.A. (VALE) opened at 10.91 on Tuesday. VALE S.A. has a one year low of $5.04 and a one year high of $11.72. The company has a market capitalization of $56.22 billion, a P/E ratio of 15.68 and a beta of 1.56. The firm has a 50-day moving average of $10.50 and a 200-day moving average of $9.29.
VALE (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $7.24 billion during the quarter. VALE had a net margin of 11.01% and a return on equity of 16.74%. Analysts forecast that VALE S.A. will post $1.17 earnings per share for the current year.
Several equities research analysts recently issued reports on the stock. Deutsche Bank AG restated a “buy” rating and issued a $12.00 target price (down previously from $12.50) on shares of VALE in a report on Sunday, June 25th. BMO Capital Markets reiterated a “hold” rating and set a $10.00 price target on shares of VALE in a research note on Friday, June 2nd. Credit Suisse Group set a $8.00 price target on shares of VALE and gave the stock a “hold” rating in a research note on Sunday, May 28th. HSBC Holdings plc upgraded shares of VALE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $8.67 to $8.76 in a research note on Wednesday, May 31st. Finally, Clarkson Capital reiterated a “neutral” rating on shares of VALE in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.67.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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