American Century Companies Inc. Purchases 416,102 Shares of Vale S.A. $VALE

Key Points

• American Century Companies Inc. increased its holdings in Vale S.A. by 12.5% during the 1st quarter, owning a total of 3,752,984 shares valued at approximately $37,455,000.
• Several equities analysts have recently adjusted their price targets for Vale, with Barclays raising its target from $12.75 to $13.00 and UBS increasing its target from $9.00 to $10.00.
• Vale declared a semi-annual dividend of $0.3417 per share, representing a substantial dividend yield of 740.0%, with the payout date set for September 10th.

American Century Companies Inc. raised its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 12.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,752,984 shares of the basic materials company's stock after purchasing an additional 416,102 shares during the quarter. American Century Companies Inc. owned 0.08% of Vale worth $37,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new stake in Vale during the first quarter valued at approximately $41,000. Golden State Wealth Management LLC boosted its holdings in shares of Vale by 193.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock worth $41,000 after acquiring an additional 2,713 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Vale by 233.7% in the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock worth $53,000 after acquiring an additional 3,810 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Vale in the 1st quarter worth approximately $64,000. Finally, Strengthening Families & Communities LLC acquired a new position in shares of Vale in the 1st quarter worth approximately $71,000. 21.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen assumed coverage on Vale in a report on Wednesday, May 7th. They issued a "hold" rating on the stock. Barclays boosted their target price on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Scotiabank reduced their target price on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 22nd. UBS Group reissued a "neutral" rating and issued a $10.00 target price (up from $9.00) on shares of Vale in a report on Monday, August 4th. Finally, CICC Research assumed coverage on Vale in a report on Monday, May 12th. They issued an "outperform" rating and a $11.30 target price on the stock. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $11.84.

Vale Trading Up 0.5%

Shares of Vale stock traded up $0.06 on Tuesday, hitting $10.23. 19,042,351 shares of the company's stock traded hands, compared to its average volume of 34,814,120. The firm's 50-day moving average price is $9.86 and its two-hundred day moving average price is $9.66. The stock has a market capitalization of $46.41 billion, a PE ratio of 8.31 and a beta of 0.74. Vale S.A. has a one year low of $8.06 and a one year high of $12.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85.

Vale (NYSE:VALE - Get Free Report) last issued its earnings results 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 company had revenue of $8.80 billion during the quarter, compared to analysts' expectations of $9.54 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. On average, research analysts expect that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.3417 per share. The ex-dividend date is Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale's payout ratio is presently 58.54%.

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.