Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Vale S.A. (NYSE:VALE)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 25.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,965,672 shares of the basic materials company's stock after acquiring an additional 2,014,652 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Vale worth $88,396,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Axxcess Wealth Management LLC purchased a new stake in Vale in the third quarter worth $259,000. Apollon Wealth Management LLC raised its holdings in Vale by 51.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 48,637 shares of the basic materials company's stock worth $568,000 after purchasing an additional 16,563 shares in the last quarter. D Orazio & Associates Inc. lifted its position in shares of Vale by 95.7% in the 3rd quarter. D Orazio & Associates Inc. now owns 26,376 shares of the basic materials company's stock worth $308,000 after purchasing an additional 12,901 shares during the period. Metis Global Partners LLC boosted its stake in shares of Vale by 42.4% during the 3rd quarter. Metis Global Partners LLC now owns 194,705 shares of the basic materials company's stock valued at $2,274,000 after purchasing an additional 57,967 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in shares of Vale by 62.9% during the third quarter. OneDigital Investment Advisors LLC now owns 16,683 shares of the basic materials company's stock valued at $195,000 after buying an additional 6,443 shares during the period. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group lowered their price objective on shares of Vale from $14.00 to $11.00 and set a "buy" rating for the company in a report on Monday, January 6th. Barclays dropped their target price on shares of Vale from $16.00 to $15.25 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. StockNews.com lowered shares of Vale from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wolfe Research raised shares of Vale from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley cut shares of Vale from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $14.50 to $11.30 in a report on Thursday, December 12th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.26.

Vale Stock Up 1.6 %

Vale stock traded up $0.15 during mid-day trading on Thursday, reaching $9.42. The stock had a trading volume of 24,072,776 shares, compared to its average volume of 35,462,656. Vale S.A. has a one year low of $8.38 and a one year high of $13.14. The company has a 50-day moving average price of $9.29 and a two-hundred day moving average price of $9.92. The company has a market capitalization of $42.73 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 0.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

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

Vale Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $0.3758 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Vale's previous semi-annual dividend of $0.30. This represents a yield of 7.5%. Vale's dividend payout ratio 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.