Cornerstone Wealth Management LLC Buys Shares of 13,247 Vale S.A. (NYSE:VALE)

Cornerstone Wealth Management LLC purchased a new position in Vale S.A. (NYSE:VALE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,247 shares of the basic materials company’s stock, valued at approximately $118,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ballentine Partners LLC boosted its holdings in shares of Vale by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock worth $159,000 after purchasing an additional 987 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Vale by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after buying an additional 1,375 shares during the period. Keynote Financial Services LLC grew its holdings in Vale by 13.5% in the 3rd quarter. Keynote Financial Services LLC now owns 11,737 shares of the basic materials company’s stock valued at $137,000 after buying an additional 1,400 shares during the period. Principal Financial Group Inc. increased its stake in shares of Vale by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 158,561 shares of the basic materials company’s stock valued at $1,852,000 after acquiring an additional 1,494 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. increased its stake in shares of Vale by 16.8% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 11,982 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,725 shares during the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on VALE shares. UBS Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. Jefferies Financial Group dropped their price objective on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com began coverage on Vale in a report on Friday, December 13th. They issued a “buy” rating on the stock. Barclays dropped their price target on Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, Wolfe Research raised Vale from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Vale currently has a consensus rating of “Hold” and a consensus price target of $13.89.

Vale Stock Up 2.2 %

NYSE VALE opened at $9.18 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. Vale S.A. has a fifty-two week low of $8.38 and a fifty-two week high of $14.00. The business has a 50 day moving average price of $9.21 and a two-hundred day moving average price of $10.17. The stock has a market cap of $39.76 billion, a PE ratio of 4.25, a P/E/G ratio of 0.27 and a beta of 0.92.

About Vale

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.