Vale S.A. $VALE Shares Purchased by Brooklyn Investment Group

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 increased its stake in Vale S.A. (NYSE:VALE - Free Report) by 1,119.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,904 shares of the basic materials company's stock after purchasing an additional 31,124 shares during the quarter. Brooklyn Investment Group's holdings in Vale were worth $338,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. J.Safra Asset Management Corp purchased a new position in shares of Vale in the 1st quarter valued at about $41,000. Golden State Wealth Management LLC increased 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 valued at $41,000 after purchasing an additional 2,713 shares in the last quarter. Allworth Financial LP increased 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 valued at $53,000 after purchasing an additional 3,810 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Vale in the 1st quarter valued at about $64,000. Finally, Strengthening Families & Communities LLC purchased a new position in shares of Vale in the 1st quarter valued at about $71,000. Hedge funds and other institutional investors own 21.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VALE. Scotiabank cut their price target on shares of Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a report on Tuesday, July 22nd. CICC Research started coverage on shares of Vale in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective on the stock. UBS Group reiterated a "neutral" rating and issued a $10.00 price objective (up from $9.00) on shares of Vale in a research report on Monday, August 4th. Wall Street Zen started coverage on shares of Vale in a research report on Wednesday, May 7th. They issued a "hold" rating on the stock. Finally, Barclays boosted their price objective on shares of Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Five 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.84.

Vale Price Performance

Shares of NYSE:VALE traded up $0.3050 on Friday, hitting $10.1150. The company had a trading volume of 31,605,654 shares, compared to its average volume of 37,217,888. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.05. The business has a 50 day moving average of $9.84 and a 200 day moving average of $9.65. The company has a market cap of $45.91 billion, a PE ratio of 8.22 and a beta of 0.74.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. The business had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $9.54 billion. Vale had a return on equity of 18.14% and a net margin of 14.23%. As a group, equities analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

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

About Vale

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.