Raymond James Financial Services Advisors Inc. decreased its position in shares of Vale SA (NYSE:VALE) by 47.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,453 shares of the basic materials company’s stock after selling 28,801 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Vale were worth $428,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Raymond James & Associates increased its stake in shares of Vale by 15.9% in the fourth quarter. Raymond James & Associates now owns 580,729 shares of the basic materials company’s stock valued at $7,660,000 after purchasing an additional 79,674 shares during the period. Bank of New York Mellon Corp grew its position in Vale by 44.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,447,620 shares of the basic materials company’s stock worth $58,664,000 after buying an additional 1,357,968 shares during the last quarter. Private Advisor Group LLC grew its position in Vale by 9.4% in the fourth quarter. Private Advisor Group LLC now owns 15,726 shares of the basic materials company’s stock worth $207,000 after buying an additional 1,346 shares during the last quarter. Windsor Creek Advisors LLC acquired a new position in Vale in the 4th quarter worth approximately $3,776,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Vale by 7.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,686,651 shares of the basic materials company’s stock worth $35,436,000 after purchasing an additional 179,150 shares during the period. 19.79% of the stock is currently owned by institutional investors and hedge funds.
VALE has been the topic of a number of recent research reports. Barclays set a $16.00 price target on shares of Vale and gave the company a “buy” rating in a report on Thursday, January 10th. ValuEngine downgraded shares of Vale from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Deutsche Bank reiterated a “hold” rating and set a $13.50 target price (down from $15.00) on shares of Vale in a research report on Thursday, January 31st. BNP Paribas lowered shares of Vale from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 24th. Finally, Royal Bank of Canada decreased their target price on shares of Vale to $9.00 and set an “underperform” rating on the stock in a research report on Monday, February 4th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Vale currently has a consensus rating of “Hold” and an average price target of $14.03.
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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. 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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