Amundi Has $28.02 Million Stake in Vale S.A. $VALE

Key Points

• Amundi increased its Vale stake by 10.2% in the first quarter, adding 162,387 shares to own 1.76 million shares valued at approximately $28.02 million. Institutional investors collectively own 21.85% of Vale.
• Analyst sentiment remains cautious, with Vale holding a consensus rating of “Hold” and an average price target of $16.19. Recent actions included downgrades from Goldman Sachs and Zacks Research.
• Vale missed quarterly expectations, reporting adjusted earnings of $0.36 per share versus the $0.46 consensus and revenue of $10.24 billion versus $10.47 billion expected. The company also announced a special dividend of $0.3088 per share.

Amundi lifted its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,760,917 shares of the basic materials company's stock after acquiring an additional 162,387 shares during the period. Amundi's holdings in Vale were worth $28,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its stake in shares of Vale by 4.9% in the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company's stock valued at $792,000 after buying an additional 3,704 shares during the period. Jones Financial Companies Lllp raised its stake in Vale by 46.6% during the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company's stock worth $375,000 after buying an additional 11,964 shares during the period. Empowered Funds LLC bought a new position in Vale in the first quarter worth approximately $171,000. Strs Ohio bought a new position in Vale in the first quarter worth approximately $117,000. Finally, Sivia Capital Partners LLC acquired a new stake in Vale in the second quarter valued at approximately $123,000. 21.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VALE shares. Weiss Ratings restated a "hold (c)" rating on shares of Vale in a report on Wednesday, July 8th. Zacks Research cut Vale from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Vale in a research report on Monday, June 15th. The Goldman Sachs Group lowered shares of Vale from a "buy" rating to a "neutral" rating and decreased their price target for the company from $18.00 to $16.00 in a research note on Monday, July 27th. Finally, Wells Fargo & Company lowered their price objective on shares of Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.19.

Vale Stock Performance

Shares of Vale stock opened at $14.59 on Tuesday. Vale S.A. has a 52 week low of $9.67 and a 52 week high of $17.94. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $15.15 and a 200-day moving average price of $15.84. The company has a market cap of $66.21 billion, a PE ratio of 29.77 and a beta of 0.47.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.36 earnings per share (EPS) 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 19.99%. The company had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.47 billion. Equities analysts anticipate that Vale S.A. will post 1.92 earnings per share for the current fiscal 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 issued a dividend of $0.3088 per share. The ex-dividend date of this dividend is Thursday, August 13th. Vale's payout ratio is currently 134.69%.

Vale Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source