The Manufacturers Life Insurance Company Has $1 Million Stake in Vale S.A. $VALE

Key Points

• The Manufacturers Life Insurance Company cut its Vale stake by 85.7% in the second quarter, selling 400,878 shares and retaining 66,831 shares worth approximately $1.005 million. Institutional investors and hedge funds collectively own 21.85% of Vale.
• Vale reported quarterly EPS of $0.36, below the $0.46 consensus estimate, while revenue of $10.24 billion also missed expectations. The company paid a special dividend of $0.3088 per share, with a payout ratio of 89.80%.
• Analyst sentiment is broadly cautious: Vale has a consensus “Hold” rating and an average price target of $16.04, while several firms recently lowered their targets or downgraded the stock.

The Manufacturers Life Insurance Company lowered its holdings in Vale S.A. (NYSE:VALE - Free Report) by 85.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,831 shares of the basic materials company's stock after selling 400,878 shares during the period. The Manufacturers Life Insurance Company's holdings in Vale were worth $1,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna boosted its stake in shares of Vale by 128.3% in the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company's stock valued at $27,000 after buying an additional 1,155 shares during the period. Bruce G. Allen Investments LLC bought a new position in Vale during the 4th quarter worth $33,000. Ramsey Quantitative Systems bought a new position in Vale during the 2nd quarter worth $56,000. V Square Quantitative Management LLC acquired a new position in Vale in the 1st quarter valued at $83,000. Finally, Huntington National Bank lifted its position in shares of Vale by 72.3% during the 4th quarter. Huntington National Bank now owns 8,121 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 3,408 shares during the period. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Performance

Shares of VALE stock opened at $14.62 on Tuesday. Vale S.A. has a 12 month low of $10.58 and a 12 month high of $17.94. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $66.35 billion, a price-to-earnings ratio of 29.83 and a beta of 0.49. The business's 50-day moving average price is $14.70 and its 200-day moving average price is $15.55.

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

Vale Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. The Goldman Sachs Group lowered Vale from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $18.00 to $16.00 in a report on Monday, July 27th. Scotiabank cut their price objective on shares of Vale from $19.00 to $16.00 and set a "sector perform" rating for the company in a research report on Monday, July 20th. Freedom Broker downgraded shares of Vale from a "hold" rating to a "strong sell" rating in a research note on Thursday, September 3rd. Wall Street Zen lowered shares of Vale from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $16.50 price target (down from $19.50) on shares of Vale in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Vale presently has a consensus rating of "Hold" and an average price target of $16.04.

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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