Brooklyn Investment Group Buys 31,124 Shares of Vale S.A. $VALE

Key Points

• Brooklyn Investment Group increased its stake in Vale S.A. by an impressive 1,119.6%, acquiring over 31,000 additional shares during the first quarter, which brought their total holdings to 33,904 shares valued at approximately $338,000.
• Multiple hedge funds have recently adjusted their positions in Vale, with GQG Partners LLC initiating a new stake valued at around $371,778,000, highlighting strong institutional interest in the stock.
• Wall Street analysts remain cautiously optimistic, with the stock receiving a consensus rating of "Moderate Buy" and an average price target rising to $11.84, emphasizing potential growth despite recent earnings results that fell short of revenue expectations.

Brooklyn Investment Group grew its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 1,119.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 33,904 shares of the basic materials company's stock after purchasing an additional 31,124 shares during the period. Brooklyn Investment Group's holdings in Vale were worth $338,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp bought a new position in shares of Vale in the first quarter valued at approximately $41,000. Golden State Wealth Management LLC raised its position in Vale by 193.0% in the first 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 raised its position in Vale by 233.7% in the first 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 bought a new stake in Vale in the first quarter worth about $64,000. Finally, Strengthening Families & Communities LLC bought a new stake in Vale in the first quarter worth about $71,000. 21.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VALE shares. Barclays increased their price objective on Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Wall Street Zen started coverage on Vale in a report on Wednesday, May 7th. They set a "hold" rating for the company. Scotiabank reduced their price objective on Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a report on Tuesday, July 22nd. UBS Group reaffirmed a "neutral" rating and issued a $10.00 price target (up from $9.00) on shares of Vale in a report on Monday, August 4th. 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 for the company. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Vale currently has an average rating of "Moderate Buy" and an average target price of $11.84.

Vale Price Performance

Shares of VALE stock traded up $0.06 on Monday, reaching $10.18. The company's stock had a trading volume of 16,010,578 shares, compared to its average volume of 36,261,128. 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 capitalization of $46.21 billion, a P/E ratio of 8.28 and a beta of 0.74. The stock's 50 day simple moving average is $9.84 and its 200-day simple moving average is $9.65.

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 analysts' consensus estimates of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $9.54 billion. As a group, equities analysts predict that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The business 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 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 (DPR) is 58.54%.

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.