Banco Bilbao Vizcaya Argentaria S.A. Sells 146,611 Shares of Vale S.A. $VALE

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Vale S.A. by 31.3%, selling 146,611 shares during the first quarter, leaving it with 321,326 shares valued at $3,169,000.
• Research analysts have varied opinions on Vale, with price targets ranging from $10.00 to $13.00, and the stock currently holds an average rating of "Moderate Buy."
• Vale recently declared a semi-annual dividend of $0.3417, with a high implied dividend yield of 740%, despite cutting the dividend payout ratio to 58.54%.

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 31.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,326 shares of the basic materials company's stock after selling 146,611 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Vale were worth $3,169,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new stake in Vale during the 1st quarter worth approximately $228,000. Golden State Wealth Management LLC boosted its position in 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 valued at $41,000 after buying an additional 2,713 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in Vale by 20.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock valued at $159,000 after buying an additional 2,707 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Vale by 38.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company's stock valued at $225,000 after buying an additional 6,261 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in Vale by 44.4% in the 1st quarter. Merit Financial Group LLC now owns 20,847 shares of the basic materials company's stock valued at $208,000 after buying an additional 6,412 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Vale Stock Up 0.9%

NYSE:VALE opened at $9.8050 on Friday. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.05. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $44.50 billion, a P/E ratio of 7.97 and a beta of 0.74. The stock's fifty day simple moving average is $9.82 and its 200-day simple moving average is $9.64.

Vale (NYSE:VALE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities research analysts expect that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th will be given a $0.3417 dividend. This represents a dividend yield of 740.0%. The ex-dividend date is Wednesday, August 13th. Vale's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.