Raymond James Financial Inc. Has $16.13 Million Stock Position in Vale S.A. $VALE

Key Points

• Raymond James Financial Inc. increased its stake in Vale S.A. (NYSE:VALE) by 28.9%, owning a total of 1,616,070 shares worth approximately $16.1 million after purchasing an additional 362,225 shares.
• Analyzing brokerages have shown mixed sentiment for Vale, with Barclays raising the target price to $13.00 while Scotiabank lowered theirs to $12.50, resulting in a consensus rating of "Moderate Buy" and an average price target of $11.84.
• Vale reported a quarterly earnings per share of $0.50, surpassing analysts' expectations, with a revenue of $8.80 billion, although below estimates of $9.54 billion.

Raymond James Financial Inc. lifted its stake in Vale S.A. (NYSE:VALE - Free Report) by 28.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,616,070 shares of the basic materials company's stock after purchasing an additional 362,225 shares during the quarter. Raymond James Financial Inc.'s holdings in Vale were worth $16,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of VALE. J.Safra Asset Management Corp purchased a new stake in Vale in the 1st quarter worth about $41,000. Golden State Wealth Management LLC lifted its stake 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 worth $41,000 after acquiring an additional 2,713 shares in the last quarter. Allworth Financial LP lifted its stake in 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 in the last quarter. Wayfinding Financial LLC purchased a new stake in Vale in the 1st quarter worth about $64,000. Finally, Strengthening Families & Communities LLC purchased a new stake in Vale in the 1st quarter worth about $71,000. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Up 0.3%

Shares of VALE traded up $0.04 during midday trading on Wednesday, reaching $10.21. 21,202,530 shares of the stock were exchanged, compared to its average volume of 22,973,514. The firm has a 50 day simple moving average of $9.99 and a 200-day simple moving average of $9.68. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.05. The company has a market cap of $46.32 billion, a price-to-earnings ratio of 8.30 and a beta of 0.79.

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

Vale Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VALE. CICC Research began coverage on Vale in a research note on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective for the company. Barclays increased their price objective on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Clarkson Capital initiated coverage on Vale in a research note on Wednesday. They issued a "buy" rating and a $12.00 price objective for the company. Wall Street Zen initiated coverage on Vale in a research note on Wednesday, May 7th. They set a "hold" rating for the company. Finally, Scotiabank cut their price target on Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a research note on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $11.86.

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.