Bank of America Corp DE reduced its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 33.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,575,087 shares of the basic materials company's stock after selling 6,244,487 shares during the period. Bank of America Corp DE owned about 0.28% of Vale worth $111,541,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. American Trust Investment Advisors LLC lifted its holdings in Vale by 39.1% during the fourth quarter. American Trust Investment Advisors LLC now owns 65,525 shares of the basic materials company's stock valued at $581,000 after purchasing an additional 18,405 shares during the last quarter. Advanced Portfolio Management LLC purchased a new stake in shares of Vale during the 4th quarter valued at approximately $710,000. Wahed Invest LLC boosted its holdings in Vale by 12.5% in the 4th quarter. Wahed Invest LLC now owns 53,611 shares of the basic materials company's stock worth $476,000 after buying an additional 5,951 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Vale in the 4th quarter worth approximately $587,000. Finally, Dynamo Internacional Gestao DE Recursos LTDA. grew its stake in Vale by 47.5% in the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 4,084,812 shares of the basic materials company's stock valued at $36,232,000 after buying an additional 1,314,675 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company's stock.
Vale Trading Down 0.9%
Vale stock traded down $0.09 during trading hours on Wednesday, reaching $9.79. The company had a trading volume of 25,426,530 shares, compared to its average volume of 30,713,410. 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 company has a 50-day moving average price of $9.49 and a 200 day moving average price of $9.52. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 0.31 and a beta of 0.83. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $13.14.
Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Vale had a net margin of 16.15% and a return on equity of 17.38%. The firm had revenue of $8.12 billion for the quarter, compared to analysts' expectations of $8.39 billion. Equities analysts forecast that Vale S.A. will post 1.85 earnings per share for the current year.
Vale Increases Dividend
The firm 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. This represents a yield of 7.5%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Vale's previous semi-annual dividend of $0.30. Vale's payout ratio is currently 54.35%.
Analyst Ratings Changes
VALE has been the topic of several recent research reports. CICC Research assumed coverage on Vale in a research report on Monday. They set an "outperform" rating and a $11.30 target price on the stock. StockNews.com started coverage on Vale in a research note on Wednesday, May 7th. They set a "hold" rating for the company. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their price objective for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. UBS Group decreased their price objective on Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $11.00 target price (down previously from $12.00) on shares of Vale in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.04.
Check Out Our Latest Analysis on Vale
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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