Cullinan Associates Inc. Purchases Shares of 41,225 Vale S.A. (NYSE:VALE)

Cullinan Associates Inc. acquired a new position in shares of Vale S.A. (NYSE:VALE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 41,225 shares of the basic materials company’s stock, valued at approximately $460,000.

Several other hedge funds also recently modified their holdings of VALE. Cambridge Investment Research Advisors Inc. increased its holdings in Vale by 85.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 491,207 shares of the basic materials company’s stock worth $7,791,000 after purchasing an additional 225,806 shares in the last quarter. Oaktree Capital Management LP grew its holdings in Vale by 8.1% during the fourth quarter. Oaktree Capital Management LP now owns 9,399,887 shares of the basic materials company’s stock worth $149,082,000 after buying an additional 705,520 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Vale by 49,161.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,440,413 shares of the basic materials company’s stock valued at $38,705,000 after acquiring an additional 2,435,459 shares in the last quarter. Virtu Financial LLC purchased a new position in Vale during the 1st quarter worth $1,379,000. Finally, M&T Bank Corp bought a new stake in shares of Vale in the 4th quarter worth $190,000. Institutional investors own 21.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VALE shares. Wolfe Research lowered shares of Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. UBS Group dropped their price target on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, July 5th. BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. lowered their price objective on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Barclays increased their target price on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.72.

Vale Stock Up 0.7 %

VALE stock traded up $0.07 on Thursday, reaching $10.19. 6,110,517 shares of the company traded hands, compared to its average volume of 26,171,463. The firm has a fifty day simple moving average of $11.17 and a 200-day simple moving average of $12.21. The company has a market cap of $45.68 billion, a P/E ratio of 5.59, a price-to-earnings-growth ratio of 3.57 and a beta of 0.96. Vale S.A. has a one year low of $9.66 and a one year high of $16.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.79.

Vale Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th will be paid a $0.3698 dividend. This represents a dividend yield of 12.1%. The ex-dividend date is Monday, August 5th. This is an increase from Vale’s previous semi-annual dividend of $0.32. Vale’s dividend payout ratio is currently 82.32%.

About Vale

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.