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Crestline Management LP Lowers Position in Vale S.A. (NYSE:VALE)

Crestline Management LP lessened its stake in shares of Vale S.A. (NYSE:VALE) by 76.7% in the third quarter, according to the company in its most recent…

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This article was originally published by ETF Daily News

Crestline Management LP lessened its stake in shares of Vale S.A. (NYSE:VALE) by 76.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,679 shares of the basic materials company’s stock after selling 206,321 shares during the period. Crestline Management LP’s holdings in Vale were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VALE. Assetmark Inc. lifted its position in Vale by 9.4% during the third quarter. Assetmark Inc. now owns 23,717 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 2,038 shares in the last quarter. Credit Suisse AG increased its stake in Vale by 100.8% during the third quarter. Credit Suisse AG now owns 2,455,386 shares of the basic materials company’s stock worth $34,253,000 after acquiring an additional 1,232,456 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Vale by 39.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 33,753,786 shares of the basic materials company’s stock valued at $470,865,000 after buying an additional 9,551,683 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Vale by 3.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 252,860 shares of the basic materials company’s stock valued at $3,527,000 after buying an additional 7,442 shares during the last quarter. Finally, Ativo Capital Management LLC boosted its holdings in shares of Vale by 53.6% in the third quarter. Ativo Capital Management LLC now owns 82,880 shares of the basic materials company’s stock valued at $1,156,000 after purchasing an additional 28,915 shares during the period. 23.15% of the stock is owned by institutional investors.

NYSE:VALE opened at $15.53 on Thursday. Vale S.A. has a 12 month low of $11.16 and a 12 month high of $23.17. The company’s 50 day moving average is $13.90 and its 200-day moving average is $16.01. The firm has a market cap of $79.64 billion, a price-to-earnings ratio of 4.46, a P/E/G ratio of 0.37 and a beta of 1.06. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 28th. The basic materials company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.36). The firm had revenue of $12.68 billion during the quarter, compared to analyst estimates of $14.08 billion. Vale had a net margin of 31.28% and a return on equity of 69.55%. Research analysts predict that Vale S.A. will post 3.92 EPS for the current fiscal year.

Several equities analysts recently issued reports on VALE shares. The Goldman Sachs Group began coverage on Vale in a research report on Friday, December 10th. They issued a “neutral” rating on the stock. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating and set a $15.80 target price on the stock in a research note on Wednesday, October 6th. Wolfe Research began coverage on shares of Vale in a report on Tuesday, November 16th. They set a “peer perform” rating and a $13.00 price target for the company. Morgan Stanley upgraded shares of Vale from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 9th. Finally, Exane BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating and set a $15.80 price target for the company in a research report on Wednesday, October 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.93.

Vale Profile

Vale SA engages in the production and exportation of iron ore, pellets, manganese, and iron alloys. It operates through the following segments: Ferrous Minerals, Base Metals, and Coal. The Ferrous Minerals segment includes the production and extraction of iron ore, iron ore pellets, manganese, other ferrous products, and logistic services.

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The post Crestline Management LP Lowers Position in Vale S.A. (NYSE:VALE) appeared first on ETF Daily News.




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