Vale S.A. (NYSE:VALE) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Vale S.A. by 26.5%, resulting in ownership of about 3.1 million shares valued at $31 million by the end of the last reporting period.
• Analysts have given Vale a consensus rating of "Hold" with an average price target of $11.84, indicating a mixed outlook for the stock's future performance.
• Vale recently declared a semi-annual dividend of $0.3417 per share, reflecting a high dividend yield of 740.0% and a dividend payout ratio of 58.54%.

Russell Investments Group Ltd. decreased its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 26.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,112,812 shares of the basic materials company's stock after selling 1,119,664 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Vale worth $31,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new position in Vale during the 1st quarter worth approximately $41,000. Golden State Wealth Management LLC grew its holdings in shares of 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 worth $41,000 after acquiring an additional 2,713 shares during the period. Allworth Financial LP grew its holdings in shares of Vale by 233.7% in the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock worth $53,000 after acquiring an additional 3,810 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Vale in the 1st quarter worth approximately $64,000. Finally, Strengthening Families & Communities LLC acquired a new stake in shares of Vale in the 1st quarter worth approximately $71,000. Institutional investors and hedge funds own 21.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VALE. Wall Street Zen began coverage on Vale in a report on Wednesday, May 7th. They issued a "hold" rating on the stock. UBS Group restated a "neutral" rating and issued a $10.00 price target (up previously from $9.00) on shares of Vale in a report on Monday, August 4th. Scotiabank lowered their price target on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 22nd. Barclays upped their price target on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, CICC Research began coverage on Vale in a report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $11.84.

Vale Price Performance

Shares of NYSE:VALE opened at $9.91 on Friday. The business's fifty day moving average price is $9.81 and its two-hundred day moving average price is $9.63. The stock has a market cap of $44.98 billion, a PE ratio of 8.06 and a beta of 0.74. 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 S.A. has a one year low of $8.06 and a one year high of $12.05.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. The firm had revenue of $8.80 billion for 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%. On average, analysts forecast that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Cuts Dividend

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

Vale Company 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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