Vontobel Holding Ltd. boosted its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 59.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,506 shares of the basic materials company's stock after purchasing an additional 36,372 shares during the period. Vontobel Holding Ltd.'s holdings in Vale were worth $947,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Abel Hall LLC purchased a new position in Vale during the second quarter valued at approximately $311,000. Prime Capital Investment Advisors LLC grew its position in Vale by 4.5% during the second quarter. Prime Capital Investment Advisors LLC now owns 110,861 shares of the basic materials company's stock valued at $1,076,000 after purchasing an additional 4,778 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Vale by 3.6% in the second quarter. QRG Capital Management Inc. now owns 77,100 shares of the basic materials company's stock valued at $749,000 after acquiring an additional 2,694 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its stake in Vale by 60.0% in the second quarter. Stock Yards Bank & Trust Co. now owns 16,000 shares of the basic materials company's stock valued at $155,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Ascent Group LLC lifted its stake in Vale by 2.3% in the second quarter. Ascent Group LLC now owns 61,364 shares of the basic materials company's stock valued at $596,000 after acquiring an additional 1,396 shares during the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.
Vale Price Performance
Shares of Vale stock opened at $10.76 on Monday. The firm has a fifty day simple moving average of $10.46 and a 200-day simple moving average of $9.87. 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 1-year low of $8.06 and a 1-year high of $11.33. The stock has a market capitalization of $48.84 billion, a price-to-earnings ratio of 8.75 and a beta of 0.80.
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 for the quarter, topping analysts' consensus estimates of $0.34 by $0.16. Vale had a net margin of 14.23% and a return on equity of 18.14%. The business had revenue of $8.80 billion during the quarter, compared to analysts' expectations of $9.54 billion. On average, sell-side analysts expect that Vale S.A. will post 1.85 earnings per share for the current year.
Vale Cuts Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th were paid a $0.3417 dividend. This represents a dividend yield of 740.0%. The ex-dividend date was Wednesday, August 13th. Vale's payout ratio is presently 59.35%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of Vale from $13.70 to $13.80 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley set a $11.50 target price on shares of Vale in a research note on Wednesday. Clarkson Capital assumed coverage on shares of Vale in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $12.00 target price for the company. Zacks Research upgraded shares of Vale from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Vale from $15.00 to $13.50 and set an "overweight" rating for the company in a research note on Thursday, September 4th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $11.96.
Read Our Latest Report on VALE
Vale Company Profile
(
Free Report)
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.
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