74,379 Shares of Vale S.A. $VALE Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 74,379 shares of Vale in the second quarter, valued at approximately $1.12 million. Other institutions also increased their positions, while institutional investors collectively own 21.85% of the company.
• Analyst sentiment remains cautious: Vale has an overall “Hold” rating and a consensus price target of $16.08, with recent ratings ranging from “Strong Buy” to “Strong Sell.”
• Vale’s latest quarterly results missed expectations, reporting $0.36 in adjusted earnings per share versus a $0.46 consensus estimate and revenue of $10.24 billion. The company also paid a special dividend of $0.3088 per share.

Corient Private Wealth LP purchased a new stake in Vale S.A. (NYSE:VALE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 74,379 shares of the basic materials company's stock, valued at approximately $1,119,000.

Several other institutional investors have also added to or reduced their stakes in the business. Amundi lifted its stake in shares of Vale by 27.4% during the second quarter. Amundi now owns 2,243,230 shares of the basic materials company's stock worth $33,738,000 after buying an additional 482,313 shares during the period. HighTower Advisors LLC increased its position in shares of Vale by 9.5% in the 2nd quarter. HighTower Advisors LLC now owns 397,562 shares of the basic materials company's stock valued at $5,979,000 after acquiring an additional 34,600 shares during the period. HB Wealth Management LLC raised its stake in Vale by 12.9% in the 2nd quarter. HB Wealth Management LLC now owns 11,907 shares of the basic materials company's stock worth $179,000 after acquiring an additional 1,361 shares during the last quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. purchased a new position in Vale in the 2nd quarter worth $779,000. Finally, Nykredit A S acquired a new stake in Vale during the 2nd quarter worth about $3,162,000. Institutional investors and hedge funds own 21.85% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays boosted their price target on Vale from $16.75 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Zacks Research upgraded Vale from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. UBS Group reaffirmed a "neutral" rating and set a $16.50 target price on shares of Vale in a report on Tuesday, August 11th. Freedom Broker lowered Vale from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen downgraded shares of Vale from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.08.

Vale Stock Up 0.3%

Vale stock opened at $13.61 on Friday. The firm has a market cap of $61.75 billion, a price-to-earnings ratio of 27.77 and a beta of 0.49. Vale S.A. has a 52 week low of $10.58 and a 52 week high of $17.94. The business's 50-day moving average price is $14.65 and its 200 day moving average price is $15.41. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.87%. The company had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.47 billion. As a group, sell-side analysts anticipate that Vale S.A. will post 1.9 earnings per share for the current year.

Vale Dividend Announcement

The company also recently announced a special dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.3088 per share. The ex-dividend date of this dividend was Thursday, August 13th. Vale's payout ratio is 89.80%.

Vale Profile

Vale SA is a Brazilian mining and logistics company headquartered in Rio de Janeiro. Its principal business is the production of iron ore and iron ore pellets, which are supplied to steelmakers around the world. The company also produces nickel, copper, manganese, coal and other mineral products.

Vale operates mining, processing, transportation and logistics infrastructure, including railways, ports and maritime terminals. Its operations and projects span Brazil and other jurisdictions, including Canada and Indonesia, enabling the company to serve customers in international markets.

The company was established in 1942 as Companhia Vale do Rio Doce and was privatized in 1997.

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