Vale S.A. $VALE Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP cut its stake in Vale S.A. (NYSE:VALE - Free Report) by 80.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,834 shares of the basic materials company's stock after selling 378,814 shares during the period. Engineers Gate Manager LP's holdings in Vale were worth $1,426,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in shares of Vale by 7.9% during the second quarter. Integrated Wealth Concepts LLC now owns 83,074 shares of the basic materials company's stock worth $1,249,000 after purchasing an additional 6,090 shares in the last quarter. RFG Advisory LLC acquired a new stake in shares of Vale in the 2nd quarter valued at about $178,000. Baird Financial Group Inc. boosted its position in shares of Vale by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 377,893 shares of the basic materials company's stock valued at $5,684,000 after purchasing an additional 13,754 shares during the period. West Family Investments Inc. purchased a new position in Vale during the 2nd quarter worth approximately $478,000. Finally, Nykredit A S purchased a new position in Vale during the 2nd quarter worth approximately $3,162,000. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Up 2.2%

VALE opened at $14.45 on Friday. Vale S.A. has a 52 week low of $10.58 and a 52 week high of $17.94. The business has a 50 day moving average price of $14.70 and a two-hundred day moving average price of $15.49. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45. The company has a market cap of $65.57 billion, a PE ratio of 29.48 and a beta of 0.49.

Vale (NYSE:VALE - Get Free Report) last announced 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 net margin of 5.11% and a return on equity of 19.87%. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.47 billion. As a group, research analysts anticipate that Vale S.A. will post 1.9 EPS for the current year.

Vale Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on VALE. The Goldman Sachs Group lowered Vale from a "buy" rating to a "neutral" rating and cut their price target for the stock from $18.00 to $16.00 in a research report on Monday, July 27th. UBS Group reissued a "neutral" rating and issued a $16.50 price objective on shares of Vale in a report on Tuesday, August 11th. Zacks Research upgraded shares of Vale from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Wall Street Zen cut shares of Vale from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Bank of America reiterated a "neutral" rating and issued a $16.00 price target (down from $18.00) on shares of Vale in a research report on Wednesday, August 5th. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.08.

Vale Company Profile

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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