Todd Asset Management LLC Acquires 77,887 Shares of Vale S.A. (NYSE:VALE)

Key Points

• Todd Asset Management LLC has increased its ownership in Vale S.A. by 2.9%, acquiring an additional 77,887 shares during the first quarter, bringing its total to approximately 2.79 million shares valued at $27.85 million.
• Wall Street analysts have mixed views on Vale, with Scotiabank reducing its price objective from $13.00 to $12.50 while Barclays raised its target from $12.75 to $13.00, indicating varied perspectives on the stock's performance.
• Vale recently announced a semi-annual dividend of $0.3417 per share, set to be paid on September 10th, representing a dividend yield of 740.0%.

Todd Asset Management LLC raised its position in Vale S.A. (NYSE:VALE - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,791,056 shares of the basic materials company's stock after purchasing an additional 77,887 shares during the quarter. Todd Asset Management LLC owned 0.06% of Vale worth $27,855,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Vale by 5.1% during the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock worth $258,000 after acquiring an additional 1,248 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in Vale by 5.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 24,181 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 1,349 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in Vale by 10.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 17,278 shares of the basic materials company's stock valued at $172,000 after acquiring an additional 1,700 shares during the period. Ameritas Advisory Services LLC grew its stake in Vale by 14.4% in the first quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company's stock valued at $130,000 after acquiring an additional 1,757 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Vale by 1.1% during the fourth quarter. Stifel Financial Corp now owns 170,951 shares of the basic materials company's stock valued at $1,516,000 after buying an additional 1,797 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Scotiabank cut their target price on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a research report on Tuesday, July 22nd. UBS Group restated a "neutral" rating and issued a $10.00 price objective (up from $9.00) on shares of Vale in a research note on Monday, August 4th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $11.00 price objective (down from $12.00) on shares of Vale in a research note on Thursday, April 17th. CICC Research assumed coverage on Vale in a research note on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective on the stock. Finally, Wall Street Zen assumed coverage on Vale in a research note on Wednesday, May 7th. They issued a "hold" rating on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $11.84.

Vale Trading Up 2.1%

VALE stock traded up $0.22 during trading on Tuesday, hitting $10.42. 40,571,493 shares of the company traded hands, compared to its average volume of 49,717,348. The firm has a market capitalization of $47.27 billion, a PE ratio of 8.47 and a beta of 0.74. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $12.05. The company has a 50-day moving average of $9.78 and a 200-day moving average of $9.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22.

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

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 740.0%. Vale's dividend payout ratio is currently 35.77%.

About Vale

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.