Aberdeen Group plc Sells 87,300 Shares of Vale S.A. $VALE

Key Points

• Aberdeen Group plc reduced its stake in Vale S.A. by selling 87,300 shares, bringing its total ownership to 3,674,261 shares worth approximately $35.7 million.
• Wall Street analysts have mixed but generally positive sentiments towards Vale, with a consensus target price of $11.96 and several firms issuing buy or overweight ratings.
• Vale recently declared a semi-annual dividend of $0.3417 per share, resulting in a significant dividend yield of 740.0% despite a payout ratio of 59.35%.

Aberdeen Group plc decreased its position in Vale S.A. (NYSE:VALE - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,674,261 shares of the basic materials company's stock after selling 87,300 shares during the period. Aberdeen Group plc owned 0.08% of Vale worth $35,732,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VALE. Park Avenue Securities LLC raised its position in shares of Vale by 8.5% in the 2nd quarter. Park Avenue Securities LLC now owns 13,935 shares of the basic materials company's stock valued at $135,000 after acquiring an additional 1,087 shares during the period. MAI Capital Management raised its position in shares of Vale by 5.1% during the first quarter. MAI Capital Management now owns 23,597 shares of the basic materials company's stock worth $235,000 after purchasing an additional 1,155 shares during the period. Blue Trust Inc. raised its position in shares of Vale by 5.1% during the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock worth $258,000 after purchasing an additional 1,248 shares during the period. Ascent Group LLC raised its position in shares of Vale by 2.3% during the second quarter. Ascent Group LLC now owns 61,364 shares of the basic materials company's stock worth $596,000 after purchasing an additional 1,396 shares during the period. Finally, Ameritas Advisory Services LLC raised its position in shares of Vale by 14.4% during the first quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company's stock worth $130,000 after purchasing an additional 1,757 shares during the period. Institutional investors own 21.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VALE shares. Clarkson Capital started coverage on Vale in a research report on Wednesday, September 3rd. They set a "buy" rating and a $12.00 price target on the stock. Barclays raised their price target on Vale from $13.70 to $13.80 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley set a $11.50 price target on Vale in a research report on Wednesday. UBS Group raised their price target on Vale from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Finally, Wells Fargo & Company raised Vale to a "hold" rating in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $11.96.

Vale Stock Down 2.4%

Shares of Vale stock opened at $10.76 on Monday. The business's 50 day simple moving average is $10.46 and its 200 day simple moving average is $9.87. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $11.33. The firm has a market cap of $48.84 billion, a PE ratio of 8.75 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $9.54 billion. On average, analysts predict that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.3417 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale's payout ratio is 59.35%.

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.

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