Renaissance Technologies LLC Decreases Stock Position in Vale S.A. (NYSE:VALE)

Renaissance Technologies LLC reduced its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 38.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,298,459 shares of the basic materials company's stock after selling 2,703,300 shares during the period. Renaissance Technologies LLC owned 0.09% of Vale worth $38,127,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group lifted its stake in Vale by 215.9% in the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company's stock worth $25,000 after purchasing an additional 1,900 shares in the last quarter. IFP Advisors Inc increased its holdings 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 purchasing an additional 1,938 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake 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 buying an additional 3,092 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Vale in the 4th quarter valued at $30,000. Finally, Atlas Capital Advisors Inc. increased its stake in shares of Vale by 68.3% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock worth $35,000 after acquiring an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company's stock.

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Analyst Upgrades and Downgrades

VALE has been the subject of a number of analyst reports. Jefferies Financial Group dropped 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. Scotiabank cut their price target on shares of Vale from $14.00 to $13.00 and set a "sector perform" rating for the company in a report on Monday, January 6th. Wolfe Research upgraded Vale from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Bank of America raised Vale from a "neutral" rating to a "buy" rating and raised their target price for the stock from $11.00 to $11.50 in a research note on Thursday, April 10th. Finally, StockNews.com assumed coverage on Vale in a research report on Wednesday, April 2nd. They issued a "hold" rating on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.65.

Vale Trading Down 1.6 %

NYSE:VALE traded down $0.15 during trading hours on Tuesday, reaching $9.13. 20,549,443 shares of the stock were exchanged, compared to its average volume of 30,696,296. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $13.14. The business has a 50-day moving average of $9.62 and a two-hundred day moving average of $9.75. The company has a market capitalization of $41.42 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.31 and a beta of 0.73. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE - Get Free Report) last posted 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). The firm had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.03 billion. Vale had a return on equity of 17.38% and a net margin of 16.15%. On average, equities analysts predict that Vale S.A. will post 1.85 EPS for the current year.

Vale Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.3758 dividend. This is a positive change from Vale's previous semi-annual dividend of $0.30. The ex-dividend date of this dividend was Monday, March 10th. This represents a dividend yield of 7.5%. Vale's dividend payout ratio (DPR) is presently 52.08%.

Vale 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.