Journey Advisory Group LLC Reduces Stock Position in Vale S.A. $VALE

Key Points

• Journey Advisory Group LLC has reduced its stake in Vale S.A. by 12.2%, selling 77,470 shares in the second quarter and leaving them with 558,285 shares valued at approximately $5.42 million.
• Wall Street analysts have a mixed outlook on Vale, with eight analysts rating it as a Buy, six as a Hold, and one as a Sell, while target prices range from $10.00 to $13.50.
• Vale S.A. recently announced a semi-annual dividend of $0.3417, with a payout ratio of 59.35%, despite a decrease in dividend compared to previous periods.

Journey Advisory Group LLC reduced its stake in Vale S.A. (NYSE:VALE - Free Report) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 558,285 shares of the basic materials company's stock after selling 77,470 shares during the period. Journey Advisory Group LLC's holdings in Vale were worth $5,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VALE. Wealth Enhancement Advisory Services LLC lifted 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 worth $225,000 after purchasing an additional 6,261 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Vale by 38.1% during the first quarter. QRG Capital Management Inc. now owns 74,406 shares of the basic materials company's stock valued at $743,000 after buying an additional 20,528 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Vale by 20.4% in the first quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock worth $159,000 after buying an additional 2,707 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of Vale by 63.7% in the first quarter. Johnson Investment Counsel Inc. now owns 79,721 shares of the basic materials company's stock valued at $796,000 after acquiring an additional 31,010 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Vale by 5.1% in the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 1,248 shares during the period. 21.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VALE has been the topic of a number of analyst reports. HSBC upped their target price on shares of Vale from $12.25 to $13.50 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company raised shares of Vale to a "hold" rating in a report on Wednesday, October 8th. UBS Group increased their price objective on Vale from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. dropped their price objective on Vale from $15.00 to $13.50 and set an "overweight" rating for the company in a research note on Thursday, September 4th. Finally, Zacks Research upgraded Vale from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.09.

Vale Stock Performance

NYSE VALE opened at $11.11 on Monday. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $11.33. The company has a fifty day moving average of $10.57 and a 200-day moving average of $9.91. The company has a market capitalization of $50.43 billion, a P/E ratio of 9.03 and a beta of 0.80. 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 (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. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $8.80 billion for the quarter, compared to analysts' expectations of $9.54 billion. As a group, equities research analysts predict 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 was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th were paid a $0.3417 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a yield of 740.0%. Vale's dividend payout ratio is currently 59.35%.

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.

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