Nykredit A S Invests $3.16 Million in Vale S.A. $VALE

Key Points

• Nykredit A/S purchased 210,268 Vale shares during the second quarter, valued at approximately $3.16 million. Institutional investors and hedge funds collectively own 21.85% of Vale.
• Vale reported quarterly EPS of $0.36, missing the $0.46 consensus estimate, while revenue of $10.24 billion also fell short of expectations. The company paid a special dividend of $0.3088 per share, with an 89.8% payout ratio.
• Vale shares opened at $14.21, below the analyst consensus target of $16.08. Wall Street’s overall rating is “Hold,” reflecting mostly neutral recommendations despite some bullish price targets.

Nykredit A S purchased a new position in shares of Vale S.A. (NYSE:VALE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 210,268 shares of the basic materials company's stock, valued at approximately $3,162,000.

Other large investors have also bought and sold shares of the company. Qtron Investments LLC lifted its position in Vale by 79.6% during the 4th quarter. Qtron Investments LLC now owns 149,116 shares of the basic materials company's stock worth $1,943,000 after buying an additional 66,093 shares in the last quarter. Pinebridge Investments LLC acquired a new position in shares of Vale during the 4th quarter worth about $4,642,000. Bank of Nova Scotia grew its holdings in shares of Vale by 116.2% in the 2nd quarter. Bank of Nova Scotia now owns 231,527 shares of the basic materials company's stock valued at $3,482,000 after acquiring an additional 124,460 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of Vale by 9.1% in the 4th quarter. Cibc World Market Inc. now owns 816,277 shares of the basic materials company's stock valued at $10,636,000 after acquiring an additional 67,987 shares in the last quarter. Finally, Larch Capital Partners LLC acquired a new stake in shares of Vale in the fourth quarter valued at about $18,229,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Price Performance

Shares of NYSE VALE opened at $14.21 on Wednesday. The firm has a market cap of $64.48 billion, a P/E ratio of 28.99 and a beta of 0.49. The business's 50 day moving average is $14.69 and its 200-day moving average is $15.44. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. Vale S.A. has a 1-year low of $10.58 and a 1-year high of $17.94.

Vale (NYSE:VALE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.87%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. Equities research analysts predict that Vale S.A. will post 1.9 earnings per share for the current year.

Vale Announces Dividend

The business also recently announced a special dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.3088 per share. The ex-dividend date of this dividend was Thursday, August 13th. Vale's payout ratio is presently 89.80%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Vale from $19.50 to $21.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Morgan Stanley restated an "equal weight" rating and issued a $16.50 price target (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. Royal Bank Of Canada boosted their price target on Vale from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 16th. Wells Fargo & Company dropped their price objective on Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 9th. Finally, UBS Group reissued a "neutral" rating and issued a $16.50 price objective on shares of Vale in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Vale presently has an average rating of "Hold" and an average target price of $16.08.

Vale Profile

Vale SA is a Brazilian mining and logistics company headquartered in Rio de Janeiro. Its principal business is the production of iron ore and iron ore pellets, which are supplied to steelmakers around the world. The company also produces nickel, copper, manganese, coal and other mineral products.

Vale operates mining, processing, transportation and logistics infrastructure, including railways, ports and maritime terminals. Its operations and projects span Brazil and other jurisdictions, including Canada and Indonesia, enabling the company to serve customers in international markets.

The company was established in 1942 as Companhia Vale do Rio Doce and was privatized in 1997.

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