Pekin Hardy Strauss Inc. acquired a new stake in shares of Vale S.A. (NYSE:VALE – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,590 shares of the basic materials company’s stock, valued at approximately $492,000.
Several other institutional investors also recently bought and sold shares of VALE. Capital International Investors raised its stake in Vale by 8.6% during the 4th quarter. Capital International Investors now owns 203,688,052 shares of the basic materials company’s stock worth $2,855,813,000 after acquiring an additional 16,114,413 shares during the period. BlackRock Inc. grew its holdings in Vale by 19.2% during the 1st quarter. BlackRock Inc. now owns 78,304,101 shares of the basic materials company’s stock valued at $1,565,299,000 after buying an additional 12,609,820 shares in the last quarter. Schroder Investment Management Group grew its holdings in Vale by 76.4% during the 4th quarter. Schroder Investment Management Group now owns 24,691,781 shares of the basic materials company’s stock valued at $346,178,000 after buying an additional 10,693,528 shares in the last quarter. Soroban Capital Partners LP purchased a new stake in Vale during the 4th quarter valued at approximately $107,884,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vale during the 1st quarter valued at approximately $114,025,000. 19.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
VALE has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Vale from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.00 to $24.00 in a report on Tuesday, June 7th. Morgan Stanley reissued an “equal weight” rating on shares of Vale in a report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Vale from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, June 29th. BNP Paribas lowered shares of Vale from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Wednesday, July 13th. Finally, StockNews.com started coverage on shares of Vale in a report on Friday, September 2nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.21.
Vale Stock Performance
Vale (NYSE:VALE – Get Rating) last announced its earnings results on Thursday, July 28th. The basic materials company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Vale had a net margin of 41.72% and a return on equity of 57.75%. The business had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $11.67 billion. Research analysts expect that Vale S.A. will post 3.21 EPS for the current fiscal year.
Vale Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.3907 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a dividend yield of 21.9%. Vale’s payout ratio is 19.12%.
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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.
- Get a free copy of the StockNews.com research report on Vale (VALE)
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