Itau Unibanco Holding S.A. cut its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 61.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,701,934 shares of the basic materials company's stock after selling 7,357,880 shares during the quarter. Vale makes up 1.3% of Itau Unibanco Holding S.A.'s portfolio, making the stock its 18th largest position. Itau Unibanco Holding S.A. owned about 0.10% of Vale worth $41,565,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Brooklyn Investment Group grew its stake in shares of Vale by 215.9% in the fourth quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company's stock valued at $25,000 after buying an additional 1,900 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Vale by 206.4% during the 4th quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company's stock worth $26,000 after purchasing an additional 1,938 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in Vale by 3,092.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 3,192 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 3,092 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Vale during the fourth quarter worth about $30,000. Finally, Atlas Capital Advisors Inc. increased its position in Vale by 68.3% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock worth $35,000 after buying an additional 1,623 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on VALE shares. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their target price for the stock from $11.00 to $11.50 in a research note on Thursday, April 10th. Jefferies Financial Group reduced their price objective on shares of Vale from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Wolfe Research upgraded shares of Vale from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. UBS Group reduced their price target on shares of Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Scotiabank lowered their price objective on shares of Vale from $14.00 to $13.00 and set a "sector perform" rating for the company in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $12.13.
Check Out Our Latest Analysis on Vale
Vale Stock Up 0.4 %
NYSE:VALE traded up $0.04 during trading hours on Tuesday, hitting $9.35. 9,519,110 shares of the company traded hands, compared to its average volume of 30,492,023. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The company has a market cap of $42.42 billion, a PE ratio of 6.49, a PEG ratio of 0.31 and a beta of 0.83. The firm's 50-day simple moving average is $9.50 and its 200-day simple moving average is $9.56. Vale S.A. has a one year low of $8.06 and a one year high of $13.14.
Vale (NYSE:VALE - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.39 billion. Vale had a return on equity of 17.38% and a net margin of 16.15%. Equities analysts predict that Vale S.A. will post 1.85 earnings per share for the current year.
Vale Increases Dividend
The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.3758 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a dividend yield of 7.5%. This is an increase from Vale's previous semi-annual dividend of $0.30. Vale's dividend payout ratio is currently 54.35%.
Vale Company Profile
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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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