Allianz Asset Management GmbH Sells 100,000 Shares of Vale S.A. $VALE

Key Points

• Allianz Asset Management reduced its Vale stake by 2%, selling 100,000 shares and retaining 4.89 million shares worth approximately $73.6 million. Institutional investors collectively own 21.85% of Vale.
• Vale reported quarterly EPS of $0.36, missing the $0.46 consensus estimate, while revenue of $10.24 billion also fell short of expectations. The company declared a special dividend of $0.3088 per share, payable September 10 to shareholders of record on August 13.
• Vale shares opened at $15.28, compared with a consensus analyst price target of $16.33. Analyst sentiment remains broadly cautious, with an overall “Hold” rating and recent actions ranging from a JPMorgan price-target increase to downgrades from Goldman Sachs and Freedom Broker.

Allianz Asset Management GmbH trimmed its position in Vale S.A. (NYSE:VALE - Free Report) by 2.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,891,920 shares of the basic materials company's stock after selling 100,000 shares during the period. Allianz Asset Management GmbH owned about 0.11% of Vale worth $73,574,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VALE. Corient Private Wealth LP purchased a new stake in Vale during the second quarter worth about $1,119,000. Amundi grew its position in shares of Vale by 27.4% during the 2nd quarter. Amundi now owns 2,243,230 shares of the basic materials company's stock valued at $33,738,000 after acquiring an additional 482,313 shares during the period. HighTower Advisors LLC increased its stake in shares of Vale by 9.5% during the 2nd quarter. HighTower Advisors LLC now owns 397,562 shares of the basic materials company's stock worth $5,979,000 after purchasing an additional 34,600 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 1,361 shares during the period. Finally, Navi International Administradora e Gestora de Recursos Financeiros Ltda. purchased a new position in Vale in the second quarter valued at approximately $779,000. Institutional investors own 21.85% of the company's stock.

Vale Stock Up 0.1%

VALE opened at $15.28 on Tuesday. Vale S.A. has a 12 month low of $10.33 and a 12 month high of $17.94. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $14.68 and its 200-day moving average price is $15.60. The company has a market cap of $69.36 billion, a P/E ratio of 31.18 and a beta of 0.49.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.47 billion. On average, equities analysts expect that Vale S.A. will post 1.9 EPS for the current year.

Vale Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be given a $0.3088 dividend. The ex-dividend date is Thursday, August 13th. Vale's payout ratio is presently 89.80%.

Wall Street Analysts Forecast Growth

VALE has been the subject of several analyst reports. Freedom Broker downgraded shares of Vale from a "hold" rating to a "strong sell" rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. increased their price objective on Vale from $19.50 to $21.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Vale in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $18.00 price objective on shares of Vale in a research note on Friday, May 15th. Finally, The Goldman Sachs Group lowered shares of Vale from a "buy" rating to a "neutral" rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $16.33.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world's largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.

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