Naviter Wealth LLC Invests $458,000 in Vale S.A. $VALE

Key Points

• Naviter Wealth LLC has invested $458,000 in Vale S.A. by acquiring 47,154 shares of the company during the second quarter.
• Wall Street analysts are optimistic about Vale, with multiple upgrades to ratings and target prices ranging from $11.00 to $13.80.
• The company recently cut its dividend payout, announcing a semi-annual dividend of $0.3417 per share, representing a yield of 740.0%.

Naviter Wealth LLC acquired a new position in shares of Vale S.A. (NYSE:VALE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,154 shares of the basic materials company's stock, valued at approximately $458,000.

A number of other hedge funds also recently made changes to their positions in the stock. Park Avenue Securities LLC raised its position in shares of Vale by 8.5% during the second quarter. Park Avenue Securities LLC now owns 13,935 shares of the basic materials company's stock worth $135,000 after acquiring an additional 1,087 shares during the last quarter. MAI Capital Management raised its position in shares of Vale by 5.1% during the first quarter. MAI Capital Management now owns 23,597 shares of the basic materials company's stock worth $235,000 after acquiring an additional 1,155 shares during the last quarter. Blue Trust Inc. increased its holdings in Vale by 5.1% in the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock worth $258,000 after purchasing an additional 1,248 shares in the last quarter. Ascent Group LLC increased its holdings in Vale by 2.3% in the second quarter. Ascent Group LLC now owns 61,364 shares of the basic materials company's stock worth $596,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Moran Wealth Management LLC increased its holdings in Vale by 2.7% in the second quarter. Moran Wealth Management LLC now owns 58,834 shares of the basic materials company's stock worth $571,000 after purchasing an additional 1,537 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Vale from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 8th. Morgan Stanley set a $11.50 target price on Vale in a report on Wednesday, October 8th. Wells Fargo & Company upgraded Vale to a "hold" rating in a report on Wednesday, October 8th. UBS Group lifted their target price on Vale from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. Finally, Barclays lifted their target price on Vale from $13.70 to $13.80 and gave the stock an "overweight" rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $11.96.

Vale Trading Down 0.4%

Shares of Vale stock opened at $10.97 on Wednesday. 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 52 week low of $8.06 and a 52 week high of $11.33. The stock has a 50 day moving average price of $10.50 and a two-hundred day moving average price of $9.88. The stock has a market capitalization of $49.77 billion, a PE ratio of 8.91 and a beta of 0.80.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.80 billion during the quarter, compared to analysts' expectations of $9.54 billion. As a group, equities analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th were given a dividend of $0.3417 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale's payout ratio is presently 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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