33,500 Shares in Vale S.A. $VALE Bought by Corient IA LLC

Key Points

• Corient IA LLC has invested approximately $334,000 in Vale S.A. by purchasing 33,500 shares in the first quarter, marking a new position for the firm.
• Vale has seen significant increases in institutional ownership, with various firms such as Golden State Wealth Management and Allworth Financial LP boosting their stakes by over 190% and 230%, respectively.
• Vale recently declared a $0.3417 semi-annual dividend with a yield of 740.0%, although the company has experienced lower quarterly revenue than expected, reporting $8.80 billion against an expectation of $9.54 billion.

Corient IA LLC purchased a new position in shares of Vale S.A. (NYSE:VALE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,500 shares of the basic materials company's stock, valued at approximately $334,000.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. grew its holdings in Vale by 28.9% during the first quarter. Raymond James Financial Inc. now owns 1,616,070 shares of the basic materials company's stock worth $16,128,000 after acquiring an additional 362,225 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Vale by 4.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 827,805 shares of the basic materials company's stock valued at $8,261,000 after acquiring an additional 33,907 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Vale by 12.5% during the first quarter. American Century Companies Inc. now owns 3,752,984 shares of the basic materials company's stock valued at $37,455,000 after acquiring an additional 416,102 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Vale by 1.9% in the 1st quarter. Neuberger Berman Group LLC now owns 118,821 shares of the basic materials company's stock worth $1,186,000 after buying an additional 2,211 shares during the last quarter. Finally, Boston Partners acquired a new stake in Vale in the 1st quarter worth about $1,581,000. Hedge funds and other institutional investors own 21.85% of the company's stock.

Vale Stock Performance

Shares of NYSE VALE traded up $0.0850 during trading on Thursday, reaching $9.8050. The stock had a trading volume of 14,413,291 shares, compared to its average volume of 37,350,031. 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 quick ratio of 0.85 and a current ratio of 1.22. The stock has a market cap of $44.50 billion, a PE ratio of 7.97 and a beta of 0.74. The firm's 50 day moving average price is $9.82 and its two-hundred day moving average price is $9.64.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.54 billion. On average, research analysts forecast that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th will be issued a $0.3417 dividend. This represents a dividend yield of 740.0%. The ex-dividend date is Wednesday, August 13th. Vale's payout ratio is 58.54%.

Analyst Upgrades and Downgrades

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

About Vale

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.