AQR Capital Management LLC trimmed its stake in Vale S.A. (NYSE:VALE - Free Report) by 48.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,430,062 shares of the basic materials company's stock after selling 3,281,115 shares during the quarter. AQR Capital Management LLC owned approximately 0.08% of Vale worth $30,425,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. World Investment Advisors LLC lifted its stake in Vale by 89.7% in the third quarter. World Investment Advisors LLC now owns 19,376 shares of the basic materials company's stock valued at $226,000 after acquiring an additional 9,161 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Vale during the third quarter worth approximately $79,000. Tidal Investments LLC raised its stake in Vale by 13.2% in the third quarter. Tidal Investments LLC now owns 301,410 shares of the basic materials company's stock valued at $3,520,000 after buying an additional 35,183 shares during the period. Franklin Resources Inc. lifted its position in shares of Vale by 1.2% in the third quarter. Franklin Resources Inc. now owns 701,196 shares of the basic materials company's stock valued at $7,783,000 after buying an additional 8,489 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Vale by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 158,561 shares of the basic materials company's stock worth $1,852,000 after acquiring an additional 1,494 shares during the period. Institutional investors and hedge funds own 21.85% of the company's stock.
Analyst Ratings Changes
VALE has been the topic of a number of research analyst reports. UBS Group dropped their price target on Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. StockNews.com began coverage on shares of Vale in a research note on Wednesday. They set a "hold" rating for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $11.00 price target (down previously from $12.00) on shares of Vale in a research note on Thursday, April 17th. Finally, Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $11.50 in a research report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.13.
Read Our Latest Analysis on VALE
Vale Price Performance
Shares of NYSE VALE traded up $0.04 during trading hours on Friday, hitting $9.34. 11,093,086 shares of the stock were exchanged, compared to its average volume of 30,524,931. The company's fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $9.54. The company has a market cap of $42.39 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. 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 issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $8.39 billion. Vale had a net margin of 16.15% and a return on equity of 17.38%. On average, sell-side analysts predict that Vale S.A. will post 1.85 EPS for the current year.
Vale Increases Dividend
The business also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $0.3758 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Vale's previous semi-annual dividend of $0.30. This represents a dividend yield of 7.5%. Vale's payout ratio is 54.35%.
Vale Profile
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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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