UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 94,466 Shares of Vale S.A. $VALE

Key Points

• UBS Asset Management increased its Vale stake by 445.8% in the second quarter, purchasing 94,466 additional shares for a total holding of 115,656 shares valued at approximately $1.74 million.
• Analyst sentiment remains cautious, with Vale carrying a consensus “Hold” rating and an average price target of $16.04; 12 analysts rate it Hold, while three rate it Buy or Strong Buy.
• Vale’s latest quarterly results fell short of expectations, reporting $0.36 in earnings per share versus the $0.46 estimate and $10.24 billion in revenue versus $10.47 billion expected. The company also paid a special dividend of $0.3088 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Vale S.A. (NYSE:VALE - Free Report) by 445.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,656 shares of the basic materials company's stock after buying an additional 94,466 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Vale were worth $1,739,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Capital World Investors raised its position in Vale by 58.2% in the fourth quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company's stock worth $1,163,896,000 after acquiring an additional 32,864,929 shares during the period. GQG Partners LLC grew its position in shares of Vale by 42.4% during the 4th quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company's stock valued at $848,677,000 after acquiring an additional 19,397,396 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Vale by 15.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company's stock valued at $762,848,000 after acquiring an additional 6,351,703 shares during the period. Invesco Ltd. increased its stake in shares of Vale by 16.7% in the 3rd quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company's stock worth $314,526,000 after purchasing an additional 4,151,563 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Vale by 5.4% in the 1st quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company's stock worth $376,843,000 after purchasing an additional 1,205,280 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VALE shares. Scotiabank lowered their target price on Vale from $19.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $18.00 price target on shares of Vale in a research report on Friday, May 15th. Sanford C. Bernstein raised their price objective on Vale from $12.00 to $12.50 and gave the stock a "market perform" rating in a research note on Wednesday. Barclays lifted their price objective on Vale from $16.75 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Vale in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Vale has a consensus rating of "Hold" and a consensus target price of $16.04.

Vale Stock Down 0.5%

Shares of VALE stock opened at $15.21 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.77. Vale S.A. has a one year low of $10.58 and a one year high of $17.94. The company's fifty day moving average price is $14.71 and its 200-day moving average price is $15.58. The company has a market capitalization of $69.02 billion, a price-to-earnings ratio of 31.03 and a beta of 0.49.

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

Vale Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 13th were paid a $0.3088 dividend. The ex-dividend date of this dividend was Thursday, August 13th. Vale's dividend payout ratio is 89.80%.

About Vale

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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