3,482,017 Shares in Vale S.A. $VALE Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Vale S.A. with a purchase of 3,482,017 shares, valued at approximately $34.75 million, representing about 0.08% ownership in the company.
• Vale S.A. recently reported earnings of $0.50 per share, exceeding analysts' expectations, but its revenue of $8.80 billion fell short of the forecast.
• Vale declared a semi-annual dividend of $0.3417 per share, with the ex-dividend date on August 13; its dividend yield currently stands at 740.0%.

Nuveen LLC purchased a new stake in Vale S.A. (NYSE:VALE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,482,017 shares of the basic materials company's stock, valued at approximately $34,751,000. Nuveen LLC owned 0.08% of Vale at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Vale by 5.1% in the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 1,248 shares during the last quarter. Snowden Capital Advisors LLC increased its position in shares of Vale by 5.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 24,181 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 1,349 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Vale by 10.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 17,278 shares of the basic materials company's stock valued at $172,000 after acquiring an additional 1,700 shares during the last quarter. Ameritas Advisory Services LLC increased its position in shares of Vale by 14.4% in the first quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company's stock valued at $130,000 after acquiring an additional 1,757 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Vale by 1.1% in the fourth quarter. Stifel Financial Corp now owns 170,951 shares of the basic materials company's stock valued at $1,516,000 after acquiring an additional 1,797 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VALE. Scotiabank lowered their price target on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a research report on Tuesday, July 22nd. CICC Research assumed coverage on Vale in a report on Monday, May 12th. They set an "outperform" rating and a $11.30 price target for the company. UBS Group reissued a "neutral" rating and set a $10.00 price target (up from $9.00) on shares of Vale in a report on Monday, August 4th. Barclays lifted their price target on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen began coverage on Vale in a research note on Wednesday, May 7th. They issued a "hold" rating for the company. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vale currently has a consensus rating of "Moderate Buy" and an average price target of $11.84.

Vale Trading Down 1.1%

VALE traded down $0.1050 on Tuesday, reaching $9.7050. 24,904,015 shares of the company's stock were exchanged, compared to its average volume of 37,590,844. 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 twelve month low of $8.06 and a twelve month high of $12.05. The company's 50 day moving average is $9.81 and its 200-day moving average is $9.64. The company has a market cap of $44.05 billion, a price-to-earnings ratio of 7.89 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 (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. Vale had a net margin of 14.23% and a return on equity of 18.14%. The company had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $9.54 billion. Equities analysts predict that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.3417 per share. This represents a dividend yield of 740.0%. The ex-dividend date is Wednesday, August 13th. Vale's dividend payout ratio is 58.54%.

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.