Fisher Asset Management LLC Acquires 129,613 Shares of Vale S.A. $VALE

Fisher Asset Management LLC lifted its holdings in shares of Vale S.A. (NYSE:VALE) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,827,254 shares of the basic materials company’s stock after buying an additional 129,613 shares during the period. Fisher Asset Management LLC owned about 0.50% of Vale worth $306,113,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mountain Hill Investment Partners Corp. bought a new position in shares of Vale in the 3rd quarter valued at $40,000. Ramsey Quantitative Systems bought a new stake in Vale during the 2nd quarter worth $56,000. Inspire Investing LLC grew its position in Vale by 19.8% during the 3rd quarter. Inspire Investing LLC now owns 7,141 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 1,179 shares during the last quarter. M Holdings Securities Inc. bought a new stake in Vale during the 3rd quarter worth $145,000. Finally, Foster Group Inc. increased its holdings in Vale by 6.9% in the 3rd quarter. Foster Group Inc. now owns 11,697 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 758 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors.

Vale Stock Performance

NYSE:VALE opened at $11.29 on Friday. The company has a fifty day moving average of $13.21 and a 200-day moving average of $15.08. The firm has a market capitalization of $51.22 billion, a P/E ratio of 8.10 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. Vale S.A. has a twelve month low of $10.96 and a twelve month high of $17.94.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, October 29th. The basic materials company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). Vale had a net margin of 1.64% and a return on equity of 16.54%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.45 billion. As a group, sell-side analysts anticipate that Vale S.A. will post 1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VALE shares. JPMorgan Chase & Co. increased their target price on Vale from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada boosted their price target on Vale from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Zacks Research downgraded Vale from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Morgan Stanley set a $15.50 price objective on Vale in a research note on Wednesday, October 7th. Finally, Wall Street Zen lowered shares of Vale from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Vale has an average rating of “Hold” and an average price target of $14.96.

Vale Company Profile

Vale S.A. is a Brazilian mining and logistics company best known for producing iron ore and iron ore pellets, which are used in steelmaking. Its other products include nickel, copper, cobalt and manganese, serving customers in the steel, energy and technology industries. Founded in 1942 as Companhia Vale do Rio Doce, the company is headquartered in Rio de Janeiro. Its operations and projects span several countries, including Brazil, Canada and Indonesia. In addition to mining, Vale operates railways, ports and other logistics infrastructure that support the transportation of its products.