Envestnet Asset Management Inc. Acquires 410,464 Shares of Vale S.A. $VALE

Key Points

• Envestnet Asset Management increased its Vale stake by 8.5% in the second quarter, purchasing 410,464 additional shares and bringing its holdings to 5.25 million shares valued at approximately $78.9 million.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with a consensus price target of $16.08. Recent actions included Goldman Sachs downgrading Vale to neutral, while JPMorgan raised its target to $21.
• Vale’s shares opened at $13.61, below both their 50-day and 200-day moving averages. The company also reported quarterly earnings and revenue below analyst expectations but paid a special dividend of $0.3088 per share.

Envestnet Asset Management Inc. raised its stake in Vale S.A. (NYSE:VALE - Free Report) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,248,034 shares of the basic materials company's stock after buying an additional 410,464 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Vale worth $78,930,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of VALE. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its stake in Vale by 128.3% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company's stock worth $27,000 after purchasing an additional 1,155 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Vale during the fourth quarter valued at approximately $33,000. Ramsey Quantitative Systems acquired a new stake in shares of Vale during the second quarter valued at approximately $56,000. V Square Quantitative Management LLC purchased a new stake in shares of Vale in the 1st quarter valued at approximately $83,000. Finally, Huntington National Bank lifted its position in shares of Vale by 72.3% in the 4th quarter. Huntington National Bank now owns 8,121 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 3,408 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on VALE. Zacks Research raised shares of Vale from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. The Goldman Sachs Group downgraded shares of Vale from a "buy" rating to a "neutral" rating and cut their target price for the company from $18.00 to $16.00 in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their target price on Vale from $19.50 to $21.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Freedom Broker cut Vale from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 3rd. Finally, Sanford C. Bernstein lifted their price target on Vale from $12.00 to $12.50 and gave the company a "market perform" rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.08.

Vale Stock Performance

VALE opened at $13.61 on Friday. The company has a market cap of $61.75 billion, a PE ratio of 27.77 and a beta of 0.49. The stock has a 50-day moving average of $14.65 and a 200-day moving average of $15.41. Vale S.A. has a 52-week low of $10.58 and a 52-week high of $17.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.19.

Vale (NYSE:VALE - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.10). Vale had a return on equity of 19.87% and a net margin of 5.11%.The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.47 billion. As a group, equities research analysts forecast that Vale S.A. will post 1.9 earnings per share for the current fiscal year.

Vale Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 13th were issued a dividend of $0.3088 per share. The ex-dividend date of this dividend was Thursday, August 13th. Vale's dividend payout ratio is currently 89.80%.

About Vale

Vale SA is a Brazilian mining and logistics company headquartered in Rio de Janeiro. Its principal business is the production of iron ore and iron ore pellets, which are supplied to steelmakers around the world. The company also produces nickel, copper, manganese, coal and other mineral products.

Vale operates mining, processing, transportation and logistics infrastructure, including railways, ports and maritime terminals. Its operations and projects span Brazil and other jurisdictions, including Canada and Indonesia, enabling the company to serve customers in international markets.

The company was established in 1942 as Companhia Vale do Rio Doce and was privatized in 1997.

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