Stonehage Fleming Financial Services Holdings Ltd Takes $231,000 Position in Vale S.A. $VALE

Key Points

• Stonehage Fleming Financial Services Holdings Ltd has acquired a new stake in Vale S.A., purchasing 23,796 shares worth approximately $231,000 in the second quarter of 2023.
• Vale's stock recently saw a decrease of 2.4%, with current trading at $10.76, marking a 52-week range between a low of $8.06 and a high of $11.33.
• The company reported $0.50 earnings per share for the previous quarter, surpassing analysts' estimates, but had a revenue of $8.80 billion, which fell short of expectations.

Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Vale S.A. (NYSE:VALE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,796 shares of the basic materials company's stock, valued at approximately $231,000.

Several other hedge funds have also modified their holdings of the stock. Banque Transatlantique SA purchased a new position in Vale during the 1st quarter valued at about $30,000. GAMMA Investing LLC increased its holdings in shares of Vale by 98.4% in the 2nd 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 period. Golden State Wealth Management LLC increased 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 purchasing an additional 2,713 shares during the period. J.Safra Asset Management Corp acquired a new position in shares of Vale in the 1st quarter valued at about $41,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Vale in the 2nd quarter valued at about $46,000. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Stock Down 2.4%

VALE opened at $10.76 on Friday. Vale S.A. has a fifty-two week low of $8.06 and a fifty-two week high of $11.33. The business has a 50-day moving average of $10.46 and a 200-day moving average of $9.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85. The company has a market capitalization of $48.84 billion, a PE ratio of 8.75 and a beta of 0.80.

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 for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $9.54 billion. Equities research analysts forecast that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on VALE shares. Clarkson Capital started coverage on Vale in a report on Wednesday, September 3rd. They issued a "buy" rating and a $12.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Vale from $15.00 to $13.50 and set an "overweight" rating on the stock in a report on Thursday, September 4th. UBS Group raised their price target on Vale from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Zacks Research raised Vale from a "strong sell" rating to a "hold" rating in a research note on Wednesday. Finally, Scotiabank raised Vale from a "sector perform" rating to a "sector outperform" rating and set a $14.00 price target for the company in a research note on Thursday, September 18th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $11.96.

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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