Allspring Global Investments Holdings LLC Has $30.65 Million Stock Position in Vale S.A. $VALE

Key Points

• Allspring Global Investments reduced its stake in Vale S.A. by 3.2%, now holding approximately 3.12 million shares worth $30.65 million as of the most recent SEC filing.
• Institutional investors collectively own 21.85% of Vale's stock, with several prominent firms increasing their stakes significantly during the first quarter.
• Vale recently cut its dividend, which yielded 740.0%, and the company reported beats on earnings with an EPS of $0.50, surpassing analyst estimates.

Allspring Global Investments Holdings LLC lowered its stake in Vale S.A. (NYSE:VALE - Free Report) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,121,412 shares of the basic materials company's stock after selling 104,851 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Vale worth $30,652,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VALE. GQG Partners LLC bought a new stake in Vale in the 1st quarter valued at about $371,778,000. Orbis Allan Gray Ltd boosted its holdings in Vale by 165.9% in the 1st quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company's stock valued at $311,955,000 after purchasing an additional 19,500,437 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Vale by 38.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,932,405 shares of the basic materials company's stock valued at $159,005,000 after purchasing an additional 4,389,959 shares during the period. Driehaus Capital Management LLC bought a new stake in Vale in the 1st quarter valued at about $36,118,000. Finally, Nuveen LLC bought a new stake in Vale in the 1st quarter valued at about $34,751,000. Institutional investors own 21.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VALE shares. Morgan Stanley set a $11.50 price objective on shares of Vale in a report on Wednesday, October 8th. Scotiabank raised shares of Vale from a "sector perform" rating to a "sector outperform" rating and set a $14.00 price target for the company in a report on Thursday, September 18th. JPMorgan Chase & Co. cut their price target on shares of Vale from $15.00 to $13.50 and set an "overweight" rating for the company in a report on Thursday, September 4th. Barclays upped their price target on shares of Vale from $13.70 to $13.80 and gave the stock an "overweight" rating in a report on Friday, October 10th. Finally, Wells Fargo & Company raised shares of Vale to a "hold" rating in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.96.

Vale Price Performance

Shares of NYSE:VALE opened at $11.17 on Thursday. The company has a market cap of $50.68 billion, a price-to-earnings ratio of 9.08 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $10.53 and a 200 day simple moving average of $9.89. Vale S.A. has a one year low of $8.06 and a one year high of $11.33.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $9.54 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. Research 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 disclosed a semi-annual dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th were paid a $0.3417 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a yield of 740.0%. Vale's dividend payout ratio is presently 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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