Ninety One UK Ltd Sells 419,073 Shares of Vale S.A. $VALE

Key Points

• Ninety One UK Ltd reduced its stake in Vale S.A. by 6.6%, selling 419,073 shares and retaining 5,885,464 shares valued at approximately $57.1 million.
• Analysts have set new price targets for Vale, with Scotiabank upgrading its rating to "sector outperform" and a price target of $14.00, while the average target price is currently $11.93.
• Vale announced a semi-annual dividend payout of $0.3417 per share, reflecting a dividend yield of 740.0%, with a dividend payout ratio of 59.35%.

Ninety One UK Ltd cut its holdings in Vale S.A. (NYSE:VALE - Free Report) by 6.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,885,464 shares of the basic materials company's stock after selling 419,073 shares during the quarter. Ninety One UK Ltd owned 0.13% of Vale worth $57,148,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Oppenheimer & Co. Inc. bought a new position in Vale during the first quarter valued at $228,000. Golden State Wealth Management LLC lifted 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 acquiring an additional 2,713 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in 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 acquiring an additional 2,707 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Vale by 38.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company's stock worth $225,000 after acquiring an additional 6,261 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Vale by 37.8% during the first quarter. Royal Bank of Canada now owns 1,463,665 shares of the basic materials company's stock worth $14,608,000 after acquiring an additional 401,614 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company's stock.

Analysts Set New Price Targets

VALE has been the subject of several analyst reports. Scotiabank raised Vale from a "sector perform" rating to a "sector outperform" rating and set a $14.00 price objective for the company in a research note on Thursday, September 18th. UBS Group restated a "neutral" rating and issued a $10.00 price target (up from $9.00) on shares of Vale in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of Vale from $15.00 to $13.50 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Barclays increased their target price on shares of Vale from $13.50 to $13.70 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Finally, Clarkson Capital initiated coverage on shares of Vale in a report on Wednesday, September 3rd. They issued a "buy" rating and a $12.00 target price for the company. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.93.

Vale Stock Performance

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

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

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 10th. Stockholders 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 dividend payout ratio (DPR) is 59.35%.

Vale 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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