Invesco Ltd. Acquires 468,071 Shares of Vale S.A. $VALE

Key Points

• Invesco Ltd. increased its holdings in Vale S.A. by 44.6%, owning approximately 1.5 million shares valued at about $15.15 million as of the latest filing.
• Vale posted an earnings per share (EPS) of $0.50 for the last quarter, surpassing analysts' expectation of $0.34, with a revenue of $8.80 billion against an estimated $9.54 billion.
• The company announced a semi-annual dividend of $0.3417 per share, which represents a yield of 740.0% and will be paid on September 10th, with an ex-dividend date of August 13th.

Invesco Ltd. boosted its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 44.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,517,656 shares of the basic materials company's stock after buying an additional 468,071 shares during the period. Invesco Ltd.'s holdings in Vale were worth $15,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VALE. J.Safra Asset Management Corp bought a new position in Vale during the first quarter valued at approximately $41,000. Golden State Wealth Management LLC boosted its stake in Vale by 193.0% during the first 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. Allworth Financial LP boosted its stake in Vale by 233.7% during the first quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock valued at $53,000 after buying an additional 3,810 shares during the last quarter. Wayfinding Financial LLC bought a new position in Vale during the first quarter valued at approximately $64,000. Finally, Phillips Wealth Planners LLC bought a new position in Vale during the first quarter valued at approximately $97,000. 21.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VALE. Wall Street Zen began coverage on Vale in a research note on Wednesday, May 7th. They set a "hold" rating for the company. Barclays upped 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. CICC Research started coverage on Vale in a research report on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective on the stock. UBS Group restated a "neutral" rating and set a $10.00 price objective (up from $9.00) on shares of Vale in a research report on Monday, August 4th. Finally, 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. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.84.

Vale Trading Down 0.0%

VALE stock traded down $0.01 during midday trading on Thursday, reaching $10.25. 26,186,788 shares of the company traded hands, compared to its average volume of 30,808,570. 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 business has a 50 day moving average of $9.90 and a 200-day moving average of $9.67. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.05. The firm has a market capitalization of $46.50 billion, a price-to-earnings ratio of 8.33 and a beta of 0.74.

Vale (NYSE:VALE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. The company had revenue of $8.80 billion during 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, sell-side analysts expect that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th will be given 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 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.