Vale S.A. $VALE Stock Holdings Reduced by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners reduced its Vale stake by 10.7% in the third quarter, selling 988,865 shares. It still held 8.26 million shares worth approximately $110.8 million, representing 2.4% of its portfolio.
• Vale shares opened at $12.38, near the lower end of their 52-week range of $11.40 to $17.94. The company’s latest quarterly results missed estimates, reporting $0.36 in EPS versus the $0.46 consensus and revenue of $10.24 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $15.71, while Vale recently paid a special dividend of $0.3088 per share.

Mondrian Investment Partners LTD trimmed its stake in Vale S.A. (NYSE:VALE - Free Report) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,263,228 shares of the basic materials company's stock after selling 988,865 shares during the quarter. Vale comprises about 2.4% of Mondrian Investment Partners LTD's holdings, making the stock its 15th biggest position. Mondrian Investment Partners LTD owned 0.18% of Vale worth $110,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vale by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company's stock valued at $762,848,000 after purchasing an additional 6,351,703 shares during the period. Lazard Asset Management LLC boosted its position in shares of Vale by 5.4% during the 1st quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company's stock worth $376,843,000 after purchasing an additional 1,205,280 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Vale by 119.9% during the 1st quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company's stock worth $347,433,000 after purchasing an additional 11,905,247 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Vale by 27.3% in the 1st quarter. Renaissance Technologies LLC now owns 14,053,337 shares of the basic materials company's stock valued at $223,589,000 after buying an additional 3,012,700 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Vale in the 1st quarter valued at about $128,239,000. 21.85% of the stock is owned by institutional investors.

Vale Stock Performance

Shares of VALE stock opened at $12.38 on Friday. The firm has a market capitalization of $56.22 billion, a PE ratio of 25.28 and a beta of 0.42. The firm has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $15.14. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. Vale S.A. has a 12 month low of $11.40 and a 12 month high of $17.94.

Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings data 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 return on equity of 19.87% and a net margin of 5.11%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.47 billion. Analysts forecast that Vale S.A. will post 1.65 EPS for the current fiscal year.

Vale Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VALE. Morgan Stanley set a $15.50 target price on Vale in a research report on Wednesday, October 7th. Wells Fargo & Company dropped their price target on Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 9th. Barclays cut their price target on Vale from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 13th. Bank of America reissued a "neutral" rating and issued a $16.00 price objective (down from $18.00) on shares of Vale in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Vale from $15.00 to $16.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 16th. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Vale currently has a consensus rating of "Hold" and an average target price of $15.71.

Vale Company Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.

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