Adage Capital Partners GP L.L.C. Takes $3.99 Million Position in Vale S.A. (NYSE:VALE)

Adage Capital Partners GP L.L.C. purchased a new position in Vale S.A. (NYSE:VALE - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 450,000 shares of the basic materials company's stock, valued at approximately $3,992,000.

A number of other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Vale by 39.4% in the fourth quarter. SG Americas Securities LLC now owns 349,851 shares of the basic materials company's stock worth $3,103,000 after acquiring an additional 98,899 shares during the period. IFP Advisors Inc lifted its holdings in shares of Vale by 206.4% in the 4th quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company's stock valued at $26,000 after buying an additional 1,938 shares during the period. Truist Financial Corp boosted its stake in shares of Vale by 18.2% in the fourth quarter. Truist Financial Corp now owns 33,704 shares of the basic materials company's stock worth $299,000 after buying an additional 5,189 shares during the last quarter. US Bancorp DE grew its holdings in Vale by 164.5% during the fourth quarter. US Bancorp DE now owns 148,857 shares of the basic materials company's stock worth $1,320,000 after acquiring an additional 92,570 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in Vale by 92.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 26,689 shares of the basic materials company's stock valued at $237,000 after acquiring an additional 12,801 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Price Performance

Shares of Vale stock traded up $0.13 during trading hours on Friday, reaching $9.37. 21,563,644 shares of the company's stock were exchanged, compared to its average volume of 30,599,474. The business has a fifty day moving average of $9.51 and a two-hundred day moving average of $9.58. The company has a market capitalization of $42.53 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 0.31 and a beta of 0.83. 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 S.A. has a 1 year low of $8.06 and a 1 year high of $13.14.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business had revenue of $8.12 billion for the quarter, compared to analysts' expectations of $8.39 billion. Vale had a net margin of 16.15% and a return on equity of 17.38%. As a group, research analysts predict that Vale S.A. will post 1.85 earnings per share 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 $0.3758 dividend. The ex-dividend date was Monday, March 10th. This is an increase from Vale's previous semi-annual dividend of $0.30. This represents a dividend yield of 7.5%. Vale's dividend payout ratio (DPR) is 54.35%.

Analyst Ratings Changes

VALE has been the topic of a number of analyst reports. Scotiabank dropped their price objective on shares of Vale from $14.00 to $13.00 and set a "sector perform" rating on the stock in a research note on Monday, January 6th. Wolfe Research upgraded shares of Vale from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. UBS Group dropped their target price on Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Bank of America raised Vale from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $11.50 in a report on Thursday, April 10th. Finally, StockNews.com initiated coverage on Vale in a research report on Wednesday, April 2nd. They issued a "hold" rating for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.13.

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.