Vale SA (VALE) Stake Lowered by ClariVest Asset Management LLC
ClariVest Asset Management LLC decreased its position in Vale SA (NYSE:VALE) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,760,200 shares of the basic materials company’s stock after selling 12,600 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.05% of Vale worth $36,408,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in VALE. Certified Advisory Corp boosted its stake in Vale by 26.5% during the fourth quarter. Certified Advisory Corp now owns 12,921 shares of the basic materials company’s stock worth $170,000 after buying an additional 2,704 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Vale in the 4th quarter valued at $563,000. SG Americas Securities LLC boosted its stake in shares of Vale by 2,582.3% in the 4th quarter. SG Americas Securities LLC now owns 672,370 shares of the basic materials company’s stock valued at $8,869,000 after purchasing an additional 647,303 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Vale by 2.7% in the 4th quarter. Advisors Asset Management Inc. now owns 87,550 shares of the basic materials company’s stock valued at $1,155,000 after purchasing an additional 2,322 shares in the last quarter. Finally, Penn Mutual Asset Management LLC acquired a new stake in shares of Vale in the 4th quarter valued at $382,000. 19.90% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on VALE shares. Barclays set a $16.00 target price on shares of Vale and gave the company a “buy” rating in a research note on Thursday, January 10th. Zacks Investment Research upgraded shares of Vale from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Monday, October 15th. Morgan Stanley downgraded shares of Vale from an “overweight” rating to an “equal weight” rating and set a $11.40 target price on the stock. in a research note on Thursday. HSBC downgraded shares of Vale from a “buy” rating to a “hold” rating and reduced their price target for the stock from $18.00 to $14.50 in a research report on Monday, January 28th. Finally, Jefferies Financial Group downgraded shares of Vale from a “buy” rating to a “hold” rating and reduced their price target for the stock from $18.00 to $14.00 in a research report on Monday, January 28th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.98.
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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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