Bank of America Corp DE lessened its position in Vale SA (NYSE:VALE) by 28.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,828,723 shares of the basic materials company’s stock after selling 1,491,375 shares during the period. Bank of America Corp DE owned approximately 0.07% of Vale worth $39,475,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. American Beacon Advisors Inc. bought a new stake in shares of Vale in the second quarter valued at $36,000. Atlas Capital Advisors LLC raised its stake in shares of Vale by 110.7% in the second quarter. Atlas Capital Advisors LLC now owns 4,359 shares of the basic materials company’s stock valued at $45,000 after buying an additional 2,290 shares during the period. Rosenberg Matthew Hamilton purchased a new position in shares of Vale in the second quarter valued at $80,000. Capital Innovations LLC grew its position in shares of Vale by 63.7% in the first quarter. Capital Innovations LLC now owns 17,760 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 6,910 shares in the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in shares of Vale in the first quarter valued at $89,000. 18.40% of the stock is owned by hedge funds and other institutional investors.
VALE opened at $11.84 on Wednesday. The stock has a 50-day moving average price of $11.39 and a 200-day moving average price of $9.85. Vale SA has a 12-month low of $6.49 and a 12-month high of $13.67. The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $60.72 billion, a P/E ratio of 45.54 and a beta of 1.01.
Vale (NYSE:VALE) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.11). Vale had a net margin of 3.82% and a return on equity of 17.48%. The company had revenue of $7.52 billion during the quarter, compared to the consensus estimate of $7.13 billion. On average, equities research analysts predict that Vale SA will post 1.62 EPS for the current year.
The business also recently announced a semi-annual dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 23rd will be paid a $0.2675 dividend. This represents a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 22nd. Vale’s dividend payout ratio (DPR) is presently 13.75%.
Several equities analysts have recently weighed in on the company. Deutsche Bank lifted their price target on Vale from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. UBS Group upgraded Vale from a “neutral” rating to a “buy” rating and reduced their price target for the company from $13.00 to $12.00 in a research report on Wednesday, June 3rd. ValuEngine cut Vale from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Barclays lifted their price target on Vale from $11.75 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, BNP Paribas upgraded Vale from a “neutral” rating to an “outperform” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Vale presently has an average rating of “Buy” and a consensus price target of $13.71.
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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services; and provides related logistic services.
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