Raymond James Financial Inc. bought a new stake in Vale S.A. (NYSE:VALE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,253,845 shares of the basic materials company's stock, valued at approximately $11,122,000.
Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vale in the 3rd quarter valued at $28,000. Brooklyn Investment Group lifted its holdings in shares of Vale by 215.9% during the fourth quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company's stock worth $25,000 after buying an additional 1,900 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Vale by 206.4% in the fourth quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 1,938 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Vale in the third quarter valued at about $36,000. Finally, Cornerstone Planning Group LLC increased its position in Vale by 3,092.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,192 shares of the basic materials company's stock worth $29,000 after acquiring an additional 3,092 shares during the period. Institutional investors own 21.85% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on VALE. Morgan Stanley lowered shares of Vale from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $14.50 to $11.30 in a research report on Thursday, December 12th. Wolfe Research raised Vale from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Barclays lowered their price objective on Vale from $16.00 to $15.25 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. StockNews.com downgraded Vale from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Scotiabank decreased their price target on Vale from $14.00 to $13.00 and set a "sector perform" rating on the stock in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Vale presently has a consensus rating of "Hold" and an average target price of $13.26.
Read Our Latest Analysis on Vale
Vale Price Performance
NYSE:VALE traded down $0.14 during trading hours on Monday, hitting $9.94. The company's stock had a trading volume of 19,490,547 shares, compared to its average volume of 29,414,675. Vale S.A. has a twelve month low of $8.38 and a twelve month high of $13.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The stock has a fifty day simple moving average of $9.48 and a 200-day simple moving average of $9.90. The company has a market capitalization of $45.10 billion, a P/E ratio of 6.90, a PEG ratio of 0.31 and a beta of 0.85.
Vale (NYSE:VALE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.36). The company 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%. On average, analysts anticipate that Vale S.A. will post 1.85 EPS for the current fiscal year.
Vale Increases Dividend
The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.3758 per share. This represents a dividend yield of 7.5%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Vale's previous semi-annual dividend of $0.30. Vale's payout ratio is presently 52.08%.
About Vale
(
Free Report)
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.
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