OLD National Bancorp IN Has $186,000 Holdings in Vale S.A. (NYSE:VALE)

OLD National Bancorp IN cut its position in Vale S.A. (NYSE:VALE) by 34.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,624 shares of the basic materials company’s stock after selling 9,889 shares during the period. OLD National Bancorp IN’s holdings in Vale were worth $186,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VALE. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vale by 12.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,949 shares of the basic materials company’s stock worth $1,579,000 after purchasing an additional 20,215 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of Vale during the fourth quarter worth approximately $188,000. Stonebridge Financial Group LLC acquired a new position in shares of Vale during the fourth quarter worth approximately $30,000. Blue Trust Inc. lifted its position in shares of Vale by 41.0% during the fourth quarter. Blue Trust Inc. now owns 24,628 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 7,159 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Vale during the fourth quarter worth approximately $97,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Trading Up 0.8%

VALE opened at $9.66 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The company has a market cap of $43.82 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 0.31 and a beta of 0.76. The firm has a 50 day simple moving average of $9.35 and a 200 day simple moving average of $9.40. Vale S.A. has a fifty-two week low of $8.06 and a fifty-two week high of $12.05.

Vale (NYSE:VALE) last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Vale had a net margin of 16.15% and a return on equity of 17.38%. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.39 billion. On average, sell-side analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. CICC Research assumed coverage on shares of Vale in a research report on Monday, May 12th. They set an “outperform” rating and a $11.30 target price on the stock. Bank of America upgraded shares of Vale from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $11.50 in a research report on Thursday, April 10th. Wall Street Zen assumed coverage on shares of Vale in a research note on Wednesday, May 7th. They set a “hold” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 price target (down from $12.00) on shares of Vale in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.04.

Vale Profile

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.