Longfellow Investment Management Co. LLC Has $2.76 Million Holdings in Vale S.A. (NYSE:VALE)

Key Points

• Longfellow Investment Management Co. LLC has increased its holdings in Vale S.A. by 47.8% during Q1, owning a total of 276,085 shares worth approximately $2.755 million.
• The stock saw a 2.3% increase with a current price of $10.22, while its market capitalization stands at $46.39 billion.
• Vale recently announced a $0.3417 semi-annual dividend with a yield of 740.0%, but has a dividend payout ratio of 35.77%.

Longfellow Investment Management Co. LLC lifted its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 47.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 276,085 shares of the basic materials company's stock after purchasing an additional 89,307 shares during the quarter. Vale accounts for 0.7% of Longfellow Investment Management Co. LLC's holdings, making the stock its 19th largest position. Longfellow Investment Management Co. LLC's holdings in Vale were worth $2,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new position in Vale in the first quarter valued at approximately $228,000. Golden State Wealth Management LLC boosted its holdings in shares of Vale by 193.0% in 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 purchasing an additional 2,713 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Vale by 20.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock valued at $159,000 after purchasing an additional 2,707 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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 buying an additional 6,261 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Vale by 44.4% during the 1st quarter. Merit Financial Group LLC now owns 20,847 shares of the basic materials company's stock worth $208,000 after buying an additional 6,412 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on VALE shares. Barclays raised their price objective on Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. CICC Research assumed coverage on shares of Vale in a report on Monday, May 12th. They set an "outperform" rating and a $11.30 price target on the stock. UBS Group reiterated 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. Royal Bank Of Canada reissued a "sector perform" rating and issued a $11.00 price objective (down previously from $12.00) on shares of Vale in a research note on Thursday, April 17th. Finally, Wall Street Zen started coverage on shares of Vale in a research note on Wednesday, May 7th. They set a "hold" rating on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.84.

Vale Trading Up 2.1%

VALE traded up $0.22 during trading on Tuesday, reaching $10.42. 40,571,493 shares of the company's stock were exchanged, compared to its average volume of 49,717,348. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Vale S.A. has a one year low of $8.06 and a one year high of $12.05. The firm has a fifty day moving average price of $9.78 and a two-hundred day moving average price of $9.61. The stock has a market capitalization of $47.27 billion, a PE ratio of 8.47 and a beta of 0.74.

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

Vale Cuts Dividend

The business also recently disclosed 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 dividend yield of 740.0%. The ex-dividend date of this dividend is Wednesday, August 13th. Vale's payout ratio is currently 35.77%.

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.