Corient Private Wealth LP bought a new position in Vale S.A. (NYSE:VALE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 75,653 shares of the basic materials company's stock, valued at approximately $1,138,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Jupiter Topco LLC bought a new position in shares of Vale in the second quarter worth about $25,862,000. EFG International AG increased its stake in Vale by 1,503.5% in the 2nd quarter. EFG International AG now owns 11,593 shares of the basic materials company's stock worth $174,000 after buying an additional 10,870 shares during the period. Kapitalo Investimentos Ltda lifted its holdings in Vale by 16.6% during the 2nd quarter. Kapitalo Investimentos Ltda now owns 766,128 shares of the basic materials company's stock valued at $11,523,000 after buying an additional 109,092 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Vale by 0.5% during the 2nd quarter. Jones Financial Companies Lllp now owns 432,691 shares of the basic materials company's stock valued at $6,521,000 after buying an additional 2,092 shares in the last quarter. Finally, Cibc World Market Inc. boosted its position in Vale by 21.4% in the 2nd quarter. Cibc World Market Inc. now owns 952,345 shares of the basic materials company's stock valued at $14,323,000 after buying an additional 167,954 shares during the period. 21.85% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on VALE. Wells Fargo & Company reduced their target price on shares of Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Vale in a report on Wednesday, July 8th. UBS Group reissued a "neutral" rating and issued a $16.50 price objective on shares of Vale in a research note on Tuesday, August 11th. Zacks Research downgraded Vale from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Finally, Freedom Broker lowered Vale from a "hold" rating to a "strong sell" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Vale has a consensus rating of "Hold" and an average price target of $16.33.
Check Out Our Latest Analysis on Vale
Vale Stock Performance
Shares of NYSE:VALE opened at $15.28 on Friday. The firm has a 50 day moving average of $14.67 and a 200 day moving average of $15.61. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 31.18 and a beta of 0.49. Vale S.A. has a 52 week low of $10.33 and a 52 week high of $17.94.
Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.10). The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. Vale had a return on equity of 19.87% and a net margin of 5.11%. On average, sell-side analysts predict that Vale S.A. will post 1.9 earnings per share for the current fiscal year.
Vale Dividend Announcement
The company also recently announced a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be issued a $0.3088 dividend. The ex-dividend date is Thursday, August 13th. Vale's payout ratio is currently 89.80%.
Vale Profile
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Free Report)
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.
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