Bank of Nova Scotia Boosts Stake in Vale S.A. (NYSE:VALE)

Bank of Nova Scotia boosted its holdings in Vale S.A. (NYSE:VALE - Free Report) by 45.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 436,275 shares of the basic materials company's stock after acquiring an additional 135,705 shares during the period. Bank of Nova Scotia's holdings in Vale were worth $3,870,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Vale by 328.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company's stock worth $153,891,000 after acquiring an additional 13,298,912 shares during the last quarter. FMR LLC raised its position in Vale by 28.8% in the fourth quarter. FMR LLC now owns 47,163,226 shares of the basic materials company's stock valued at $418,338,000 after purchasing an additional 10,557,888 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Vale by 106.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 9,721,066 shares of the basic materials company's stock worth $86,226,000 after purchasing an additional 5,001,228 shares in the last quarter. Fourth Sail Capital LP purchased a new position in shares of Vale during the fourth quarter worth $31,305,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Vale by 25.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,965,672 shares of the basic materials company's stock valued at $88,396,000 after buying an additional 2,014,652 shares in the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on Vale in a research note on Wednesday, April 2nd. They set a "hold" rating on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $11.00 price target (down previously from $12.00) on shares of Vale in a research report on Thursday. Wolfe Research raised shares of Vale from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Jefferies Financial Group reduced their target price on shares of Vale from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Scotiabank dropped their price target on shares of Vale from $14.00 to $13.00 and set a "sector perform" rating for the company in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.44.

Vale Stock Up 1.1 %

Shares of NYSE:VALE traded up $0.10 on Friday, hitting $9.10. 26,699,005 shares of the company's stock were exchanged, compared to its average volume of 30,596,891. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $13.14. The company has a market capitalization of $41.28 billion, a PE ratio of 6.32, a P/E/G ratio of 0.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The firm's 50-day moving average is $9.59 and its 200 day moving average is $9.72.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.36). The business had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.03 billion. Vale had a net margin of 16.15% and a return on equity of 17.38%. Sell-side analysts predict that Vale S.A. will post 1.85 EPS for the current year.

Vale Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.3758 dividend. This represents a dividend yield of 7.5%. This is an increase from Vale's previous semi-annual dividend of $0.30. The ex-dividend date of this dividend was Monday, March 10th. Vale's dividend payout ratio (DPR) is 52.08%.

Vale Company Profile

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.