Rhumbline Advisers Purchases 34,185 Shares of Vale S.A. $VALE

Key Points

• Rhumbline Advisers increased its stake in Vale S.A. by 25.9% in Q1, owning 166,125 shares valued at approximately $1.66 million as of the end of the reporting period.
• Analysts' ratings vary for Vale, with a target price ranging from $10.00 to $14.00, reflecting a consensus of “Moderate Buy” overall among research analysts.
• Vale recently reported earnings of $0.50 per share, surpassing estimates, but also announced a reduction in its dividend, which now exhibits a yield of 740.0%.

Rhumbline Advisers raised its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 25.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,125 shares of the basic materials company's stock after acquiring an additional 34,185 shares during the period. Rhumbline Advisers' holdings in Vale were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VALE. Oppenheimer & Co. Inc. acquired a new position in shares of Vale during the 1st quarter worth about $228,000. Golden State Wealth Management LLC increased its position in 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 worth $41,000 after buying an additional 2,713 shares during the period. Cornerstone Wealth Management LLC increased its position in Vale by 20.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock worth $159,000 after buying an additional 2,707 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 buying an additional 6,261 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Vale by 37.8% in the first quarter. Royal Bank of Canada now owns 1,463,665 shares of the basic materials company's stock valued at $14,608,000 after acquiring an additional 401,614 shares during the period. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Price Performance

VALE stock traded up $0.00 during midday trading on Monday, reaching $10.86. 24,580,995 shares of the company's stock traded hands, compared to its average volume of 22,478,946. The company has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $9.76. 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 S.A. has a 1-year low of $8.06 and a 1-year high of $12.05. The company has a market cap of $49.30 billion, a price-to-earnings ratio of 8.83 and a beta of 0.79.

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, topping the consensus estimate of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%.The company had revenue of $8.80 billion for the quarter, compared to analysts' expectations of $9.54 billion. On average, analysts anticipate 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. This represents a dividend yield of 740.0%. The ex-dividend date was Wednesday, August 13th. Vale's dividend payout ratio is presently 59.35%.

Analyst Upgrades and Downgrades

VALE has been the topic of a number of research reports. Scotiabank raised shares of Vale from a "sector perform" rating to a "sector outperform" rating and set a $14.00 target price on the stock in a research report on Thursday. Clarkson Capital started coverage on shares of Vale in a research report on Wednesday, September 3rd. They issued a "buy" rating and a $12.00 price target on the stock. Barclays upped their price objective on shares of Vale from $13.50 to $13.70 and gave the company an "overweight" rating in a research report on Thursday. Zacks Research downgraded Vale from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Vale from $15.00 to $13.50 and set an "overweight" rating for the company in a research report on Thursday, September 4th. Seven investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.