Scotia Capital Inc. grew its stake in Vale S.A. (NYSE:VALE - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,636 shares of the basic materials company's stock after buying an additional 26,938 shares during the period. Scotia Capital Inc.'s holdings in Vale were worth $1,903,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in Vale in the 1st quarter valued at $228,000. Golden State Wealth Management LLC raised its position in 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 last quarter. Cornerstone Wealth Management LLC raised its position in Vale by 20.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock valued at $159,000 after purchasing an additional 2,707 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Vale by 38.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company's stock valued at $225,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Merit Financial Group LLC raised its position in Vale by 44.4% in the 1st quarter. Merit Financial Group LLC now owns 20,847 shares of the basic materials company's stock valued at $208,000 after purchasing an additional 6,412 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on VALE. UBS Group upped their price target on shares of Vale from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. CICC Research began coverage on shares of Vale in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price target for the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $11.00 price target (down previously from $12.00) on shares of Vale in a research report on Thursday, April 17th. Barclays upped their price objective on shares of Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Finally, Scotiabank cut their price objective on shares of Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a research report on Tuesday, July 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Vale presently has an average rating of "Hold" and an average price target of $11.84.
Check Out Our Latest Analysis on VALE
Vale Price Performance
Shares of VALE traded up $0.23 during trading hours on Friday, reaching $10.22. The company had a trading volume of 41,937,507 shares, compared to its average volume of 50,015,028. The firm has a 50 day simple moving average of $9.74 and a 200-day simple moving average of $9.60. The company has a current ratio of 1.22, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $46.39 billion, a price-to-earnings ratio of 8.31 and a beta of 0.74. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.05.
Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $9.54 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. Research analysts expect that Vale S.A. will post 1.85 earnings per share for the current year.
Vale Cuts Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th will be paid a $0.3417 dividend. This represents a yield of 740.0%. The ex-dividend date of this dividend is Wednesday, August 13th. Vale's dividend payout ratio is presently 58.54%.
Vale Company Profile
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Free Report)
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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