Deutsche Bank AG Sells 715,700 Shares of VALE S.A. (NYSE:VALE)

Deutsche Bank AG lessened its stake in VALE S.A. (NYSE:VALE - Free Report) by 14.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,301,655 shares of the basic materials company's stock after selling 715,700 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of VALE worth $42,931,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new stake in VALE in the 1st quarter worth about $228,000. Golden State Wealth Management LLC raised its holdings in VALE by 193.0% during 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 acquiring an additional 2,713 shares during the period. Cornerstone Wealth Management LLC raised its holdings in VALE by 20.4% during the 1st quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock valued at $159,000 after acquiring an additional 2,707 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in VALE by 38.5% during 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 acquiring an additional 6,261 shares during the period. Finally, Merit Financial Group LLC raised its holdings in VALE by 44.4% during the 1st quarter. Merit Financial Group LLC now owns 20,847 shares of the basic materials company's stock valued at $208,000 after acquiring an additional 6,412 shares during the period. Institutional investors own 21.85% of the company's stock.

VALE Price Performance

VALE traded down $0.18 during trading on Thursday, reaching $9.91. The stock had a trading volume of 23,321,487 shares, compared to its average volume of 48,363,716. The stock has a market cap of $44.96 billion, a PE ratio of 8.05 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22. VALE S.A. has a one year low of $8.06 and a one year high of $12.05. The business has a 50-day moving average of $9.79 and a 200-day moving average of $9.62.

VALE (NYSE:VALE - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. The business had revenue of $8.80 billion for the quarter, compared to analysts' expectations of $9.54 billion. VALE had a return on equity of 18.14% and a net margin of 14.23%. As a group, equities research analysts anticipate that VALE S.A. will post 1.85 EPS for the current fiscal year.

VALE Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VALE. Scotiabank lowered their target price on shares of VALE from $13.00 to $12.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 22nd. Barclays upped their price target on shares of VALE from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. CICC Research started coverage on shares of VALE in a report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price target on the stock. UBS Group reaffirmed a "neutral" rating and issued a $10.00 price target (up previously from $9.00) on shares of VALE in a report on Monday, August 4th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $11.00 price target (down previously from $12.00) on shares of VALE in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.84.

VALE 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.