Ninety One North America Inc. Sells 196,743 Shares of Vale S.A. $VALE

Key Points

• Ninety One North America Inc. has reduced its stake in Vale S.A. by 7.3%, selling 196,743 shares and bringing its total holdings to approximately 2.49 million shares valued at $24.2 million.
• Multiple institutional investors have increased their positions in Vale, with GQG Partners investing around $371.8 million, and Orbis Allan Gray Ltd growing its holdings by 165.9% to over $311.9 million.
• Analysts have set a consensus price target for Vale at $11.93, with various ratings including seven "Buy" ratings from research analysts.

Ninety One North America Inc. cut its holdings in Vale S.A. (NYSE:VALE - Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,491,368 shares of the basic materials company's stock after selling 196,743 shares during the period. Ninety One North America Inc. owned about 0.05% of Vale worth $24,191,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GQG Partners LLC bought a new position in shares of Vale in the first quarter valued at approximately $371,778,000. Orbis Allan Gray Ltd grew its holdings in shares of Vale by 165.9% in the first quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company's stock valued at $311,955,000 after acquiring an additional 19,500,437 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Vale by 38.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,932,405 shares of the basic materials company's stock valued at $159,005,000 after acquiring an additional 4,389,959 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Vale by 15.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,523,471 shares of the basic materials company's stock valued at $115,004,000 after acquiring an additional 1,557,799 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Vale by 15.2% in the first quarter. Northern Trust Corp now owns 4,628,829 shares of the basic materials company's stock valued at $46,196,000 after acquiring an additional 610,457 shares in the last quarter. 21.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Clarkson Capital assumed coverage on Vale in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $12.00 price objective on the stock. Barclays upped their price objective on Vale from $13.50 to $13.70 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Scotiabank upgraded Vale from a "sector perform" rating to a "sector outperform" rating and set a $14.00 price objective on the stock in a research note on Thursday, September 18th. UBS Group reiterated a "neutral" rating and issued a $10.00 price objective (up previously from $9.00) on shares of Vale in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Vale from $15.00 to $13.50 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Vale presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.93.

Vale Trading Up 1.1%

NYSE:VALE opened at $10.87 on Wednesday. The company has a market cap of $49.34 billion, a P/E ratio of 8.84 and a beta of 0.79. The stock's fifty day moving average price is $10.28 and its two-hundred day moving average price is $9.82. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $12.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85.

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

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.3417 per share. The ex-dividend date was Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale's dividend payout ratio is currently 59.35%.

About Vale

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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