Shares of Vale S.A. (NYSE: VALE) experienced a significant surge of over 4% on Friday, defying the negative impact of Causeway Capital Management LLC’s massive sell-off of 2,559,313 (2.55 million) shares. Despite this, the stock managed to hold strong and continue its upward trajectory.
In its recent filing with the Securities and Exchange Commission (SEC), Causeway Capital Management LLC revealed a significant reduction of its stake in Vale S.A. The institutional investor now owns only 51,213 shares of the basic materials company’s stock, marking a 98% decrease after selling 2,559,313 shares during the fourth quarter. The total value of Causeway Capital Management LLC’s remaining holdings in Vale amounts to $869,000.
Interestingly, other institutional investors have been actively trading Vale shares as well.
Emerging Variant Capital Management LP
Emerging Variant Capital Management LP increased its holdings in Vale by 5.7% during the same quarter. They acquired an additional 20,000 shares, bringing their total ownership to 370,000 shares valued at $16,970,000.
American Century Companies Inc.
Similarly, American Century Companies Inc. increased its position in Vale by 21.0% during the same period. The company now owns 2,578,543 shares, worth $43,758,000, after acquiring an impressive 447,913 additional shares.
Atria Wealth Solutions Inc.
Atria Wealth Solutions Inc. also joined the buying spree, growing its stake by 9.0% in the fourth quarter. They now possess 96,094 shares of Vale’s stock, valued at $1,631,000, following the acquisition of 7,911 more shares.
Clal Insurance Enterprises Holdings Ltd
Notably, Clal Insurance Enterprises Holdings Ltd demonstrated a notable 52.6% increase in their holdings during the fourth quarter. With an additional 600,000 shares, their total ownership now stands at 1,740,000 shares, valued at $29,623,000.
Despite the significant sell-off by Causeway Capital Management, Vale’s stock continues to soar, showcasing resilience and attracting attention from other investors. This development signals a dynamic market landscape and hints at the potential opportunities that lie ahead for Vale S.A.