Public Employees Retirement System of Ohio Purchases 59,464 Shares of Vale S.A. $VALE

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Vale S.A. by 8.8%, acquiring an additional 59,464 shares for a total of 731,609 shares worth $7.1 million by quarter's end.
• Vale reported an EPS of $0.50, exceeding analysts' expectations of $0.34, but its revenue of $8.80 billion fell short of the projected $9.54 billion.
"strong sell" while Barclays increased its target price to $13.70, indicating a "buy" sentiment.

Public Employees Retirement System of Ohio lifted its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 731,609 shares of the basic materials company's stock after purchasing an additional 59,464 shares during the period. Public Employees Retirement System of Ohio's holdings in Vale were worth $7,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of Vale during the 1st quarter worth approximately $30,000. GAMMA Investing LLC lifted its stake in Vale by 98.4% in the second quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 2,021 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Vale in the 1st quarter valued at about $41,000. Golden State Wealth Management LLC raised its holdings in Vale by 193.0% during 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 period. Finally, Westend Capital Management LLC purchased a new stake in shares of Vale in the second quarter worth about $48,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Price Performance

Shares of VALE opened at $10.69 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm has a market cap of $48.50 billion, a PE ratio of 8.69 and a beta of 0.79. The firm has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $9.80. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $12.05.

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

Vale Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on VALE shares. Zacks Research lowered shares of Vale from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 9th. Clarkson Capital started coverage on shares of Vale in a report on Wednesday, September 3rd. They set a "buy" rating and a $12.00 target price on the stock. Barclays increased 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. JPMorgan Chase & Co. cut their target price on shares of Vale from $15.00 to $13.50 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. Finally, UBS Group reaffirmed a "neutral" rating and set a $10.00 target price (up previously from $9.00) on shares of Vale in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.93.

Vale Company 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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