Gateway Investment Advisers LLC Sells 266,367 Shares of Vale S.A. (NYSE:VALE)

Gateway Investment Advisers LLC lowered its stake in Vale S.A. (NYSE:VALEFree Report) by 61.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 169,358 shares of the basic materials company’s stock after selling 266,367 shares during the period. Gateway Investment Advisers LLC’s holdings in Vale were worth $2,064,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in Vale in the first quarter valued at about $26,000. Whittier Trust Co. grew its position in Vale by 423.1% in the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 1,578 shares during the last quarter. Rakuten Securities Inc. bought a new position in Vale in the fourth quarter valued at about $31,000. Richardson Financial Services Inc. bought a new position in Vale in the fourth quarter valued at about $31,000. Finally, GAMMA Investing LLC bought a new position in Vale in the fourth quarter valued at about $32,000. Institutional investors own 21.85% of the company’s stock.

Vale Price Performance

Shares of NYSE:VALE traded down $0.14 on Tuesday, hitting $11.14. The company’s stock had a trading volume of 7,860,879 shares, compared to its average volume of 25,782,189. The company has a 50-day simple moving average of $12.06 and a 200 day simple moving average of $13.11. Vale S.A. has a 1 year low of $11.02 and a 1 year high of $16.08. The company has a market capitalization of $49.94 billion, a PE ratio of 6.23, a PEG ratio of 4.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79.

Vale (NYSE:VALEGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). Vale had a net margin of 18.72% and a return on equity of 19.59%. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Sell-side analysts forecast that Vale S.A. will post 2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group raised Vale from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $15.00 in a research note on Tuesday, May 7th. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research note on Friday. Bank of America reissued a “neutral” rating and issued a $13.00 price target (down from $20.00) on shares of Vale in a research note on Tuesday, April 9th. Morgan Stanley dropped their price target on Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research note on Friday. Finally, initiated coverage on Vale in a research note on Saturday, March 30th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to, Vale currently has an average rating of “Moderate Buy” and a consensus target price of $16.55.

Read Our Latest Report on VALE

About Vale

(Free Report)

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.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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