ClariVest Asset Management LLC Increases Holdings in Vale SA (VALE)

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ClariVest Asset Management LLC raised its position in Vale SA (NYSE:VALE) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,772,800 shares of the basic materials company’s stock after acquiring an additional 141,000 shares during the period. ClariVest Asset Management LLC’s holdings in Vale were worth $41,148,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. grew its stake in 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 acquiring an additional 9,900 shares during the period. Sensato Investors LLC grew its stake in 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 acquiring an additional 971,300 shares during the period. Bank of Montreal Can acquired a new stake in Vale in the second quarter valued at approximately $5,318,000. Pinebridge Investments L.P. grew its stake in 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 acquiring an additional 1,332,613 shares during the period. Finally, Investec Asset Management PTY Ltd bought a new position in shares of Vale in the second quarter valued at approximately $20,962,000. 20.34% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on VALE. Zacks Investment Research upgraded Vale from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, October 15th. Deutsche Bank set a $15.00 target price on Vale and gave the company a “hold” rating in a report on Tuesday, October 2nd. UBS Group upgraded Vale from a “sell” rating to a “neutral” rating in a report on Wednesday, October 31st. Macquarie lowered Vale from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 25th. Finally, ValuEngine upgraded Vale from a “hold” rating to a “buy” rating in a report on Friday, September 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.13.

VALE stock opened at $14.60 on Wednesday. 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 $76.18 billion, a PE ratio of 10.81 and a beta of 1.52.

Vale (NYSE:VALE) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $9.54 billion for the quarter, compared to analyst estimates of $8.97 billion. Vale had a return on equity of 17.87% and a net margin of 10.70%. Equities research analysts anticipate that Vale SA will post 1.42 EPS for the current fiscal year.

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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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