The Manufacturers Life Insurance Company Increases Stake in Vale S.A. $VALE

Key Points

• The Manufacturers Life Insurance Company increased its stake in Vale S.A. by 15.5%, holding approximately 1,741,960 shares worth about $17.4 million as of the latest SEC filing.
• Vale S.A. reported quarterly earnings of $0.50 EPS, surpassing analysts' estimates of $0.34, with a revenue of $8.80 billion for the quarter.
• The company recently declared a semi-annual dividend of $0.3417 per share, despite having a dividend payout ratio of 58.54%.

The Manufacturers Life Insurance Company lifted its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 15.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,741,960 shares of the basic materials company's stock after buying an additional 233,458 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Vale were worth $17,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in shares of Vale during the first quarter valued at about $41,000. Golden State Wealth Management LLC increased its position in shares of Vale by 193.0% during the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock valued at $41,000 after buying an additional 2,713 shares during the period. Capital Analysts LLC purchased a new position in shares of Vale during the first quarter valued at about $51,000. Allworth Financial LP increased its position in shares of Vale by 233.7% during the first quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock valued at $53,000 after buying an additional 3,810 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Vale during the first quarter valued at about $64,000. Hedge funds and other institutional investors own 21.85% of the company's stock.

Vale Trading Down 1.1%

NYSE:VALE opened at $10.17 on Wednesday. Vale S.A. has a one year low of $8.06 and a one year high of $12.05. 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's 50-day simple moving average is $9.96 and its 200 day simple moving average is $9.68. The firm has a market capitalization of $46.14 billion, a P/E ratio of 8.26 and a beta of 0.79.

Vale (NYSE:VALE - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.23% and a return on equity of 18.14%. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $9.54 billion. As a group, analysts forecast that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.3417 per share. The ex-dividend date is Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale's dividend payout ratio is presently 58.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VALE. UBS Group reiterated a "neutral" rating and set a $10.00 price target (up previously from $9.00) on shares of Vale in a research report on Monday, August 4th. Barclays boosted their price target on shares of Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. CICC Research started coverage on shares of Vale in a research note on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective on the stock. Wall Street Zen started coverage on shares of Vale in a research note on Wednesday, May 7th. They set a "hold" rating on the stock. Finally, Scotiabank dropped their price objective on shares of Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 22nd. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.84.

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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