NewEdge Advisors LLC Sells 77,433 Shares of Vale S.A. $VALE

Key Points

• NewEdge Advisors reduced its Vale stake by 90.3% in the first quarter, selling 77,433 shares and retaining 8,318 shares valued at approximately $132,000.
• Several major institutions increased their Vale holdings, including Arrowstreet Capital, Capital World Investors and GQG Partners; institutional investors collectively own 21.85% of the company.
• Vale reported quarterly EPS of $0.36, below the $0.46 consensus estimate, while analysts maintain a consensus “Hold” rating with an average price target of $16.00. The company also announced a special dividend of $0.3088 per share.

NewEdge Advisors LLC lessened its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 90.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,318 shares of the basic materials company's stock after selling 77,433 shares during the period. NewEdge Advisors LLC's holdings in Vale were worth $132,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vale by 2,239.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company's stock worth $541,996,000 after buying an additional 39,818,066 shares during the period. Capital World Investors boosted its holdings in Vale by 58.2% during the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company's stock valued at $1,163,896,000 after acquiring an additional 32,864,929 shares during the period. GQG Partners LLC grew its position in Vale by 42.4% in the 4th quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company's stock valued at $848,677,000 after acquiring an additional 19,397,396 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Vale by 15,202.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 15,663,641 shares of the basic materials company's stock valued at $249,209,000 after acquiring an additional 15,561,279 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Vale by 119.9% in the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company's stock worth $347,433,000 after purchasing an additional 11,905,247 shares during the period. Institutional investors own 21.85% of the company's stock.

Vale Trading Down 1.0%

VALE opened at $15.17 on Thursday. The stock's fifty day moving average is $14.67 and its two-hundred day moving average is $15.68. The company has a market capitalization of $68.86 billion, a P/E ratio of 30.96 and a beta of 0.47. Vale S.A. has a 52 week low of $10.08 and a 52 week high of $17.94. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45.

Vale (NYSE:VALE - Get Free Report) last issued 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 firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.47 billion. Analysts forecast that Vale S.A. will post 1.9 earnings per share for the current year.

Vale Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Scotiabank decreased their target price on Vale from $19.00 to $16.00 and set a "sector perform" rating for the company in a research report on Monday, July 20th. Zacks Research cut shares of Vale from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. UBS Group reaffirmed a "neutral" rating and issued a $16.50 price target on shares of Vale in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Vale from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Vale in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Vale presently has a consensus rating of "Hold" and an average target price of $16.00.

Vale Profile

Vale SA is a Brazilian multinational mining company and one of the world's largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.

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