State of New Jersey Common Pension Fund D Increases Stock Holdings in Vale S.A. $VALE

Key Points

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State of New Jersey Common Pension Fund D lifted its stake in Vale S.A. (NYSE:VALE - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 827,805 shares of the basic materials company's stock after buying an additional 33,907 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Vale were worth $8,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VALE. Cerity Partners LLC raised its stake in shares of Vale by 56.0% in the fourth quarter. Cerity Partners LLC now owns 16,722 shares of the basic materials company's stock worth $158,000 after buying an additional 6,001 shares during the period. Townsquare Capital LLC raised its stake in shares of Vale by 50.1% in the fourth quarter. Townsquare Capital LLC now owns 25,412 shares of the basic materials company's stock worth $225,000 after buying an additional 8,485 shares during the period. Barclays PLC raised its stake in shares of Vale by 5.8% in the fourth quarter. Barclays PLC now owns 2,055,783 shares of the basic materials company's stock worth $18,234,000 after buying an additional 113,138 shares during the period. Mariner LLC raised its stake in shares of Vale by 21.4% in the fourth quarter. Mariner LLC now owns 103,475 shares of the basic materials company's stock worth $918,000 after buying an additional 18,216 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of Vale by 31.7% in the fourth quarter. XTX Topco Ltd now owns 35,713 shares of the basic materials company's stock worth $317,000 after buying an additional 8,597 shares during the period. Institutional investors own 21.85% of the company's stock.

Analyst Upgrades and Downgrades

VALE has been the topic of several recent research reports. Scotiabank decreased their price objective on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 22nd. Barclays lifted their target price on Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. CICC Research assumed coverage on Vale in a research note on Monday, May 12th. They set an "outperform" rating and a $11.30 target price on the stock. UBS Group reissued a "neutral" rating and set a $10.00 target price (up previously from $9.00) on shares of Vale in a research note on Monday, August 4th. Finally, Wall Street Zen assumed coverage on Vale in a research note on Wednesday, May 7th. They set a "hold" rating on the stock. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.84.

Vale Price Performance

NYSE VALE traded up $0.3050 during trading on Friday, hitting $10.1150. 31,605,654 shares of the stock traded hands, compared to its average volume of 37,217,888. The company has a market capitalization of $45.91 billion, a P/E ratio of 8.22 and a beta of 0.74. The firm has a 50-day simple moving average of $9.84 and a 200-day simple moving average of $9.65. 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.

Vale (NYSE:VALE - Get Free Report) last released its quarterly 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 business 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%. As a group, analysts predict that Vale S.A. will post 1.85 EPS for the current year.

Vale Cuts Dividend

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