Vale S.A. (NYSE:VALE) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 49,161.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,440,413 shares of the basic materials company's stock after purchasing an additional 2,435,459 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Vale worth $38,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VALE. Sunbelt Securities Inc. purchased a new stake in Vale in the first quarter worth $28,000. Systematic Alpha Investments LLC bought a new stake in Vale in the 3rd quarter valued at about $31,000. Whittier Trust Co. raised its stake in Vale by 423.1% in the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 1,578 shares during the period. AdvisorNet Financial Inc lifted its holdings in Vale by 44.7% during the third quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 835 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Vale by 2,502.8% during the fourth quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company's stock worth $45,000 after purchasing an additional 2,728 shares during the period. 21.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on VALE. UBS Group raised their price target on Vale from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, December 14th. StockNews.com initiated coverage on Vale in a report on Saturday, March 30th. They set a "buy" rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Vale from $20.50 to $20.00 and set an "overweight" rating on the stock in a report on Friday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $19.00 target price on shares of Vale in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Vale from $18.00 to $16.00 and set a "hold" rating for the company in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.52.

Vale Trading Down 1.2 %

Shares of Vale stock traded down $0.14 during trading on Friday, reaching $12.03. 31,167,930 shares of the stock were exchanged, compared to its average volume of 26,225,594. The company has a quick ratio of 0.96, a current ratio of 1.28 and a debt-to-equity ratio of 0.38. The firm has a market cap of $53.91 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 3.39 and a beta of 0.97. Vale S.A. has a 1 year low of $11.73 and a 1 year high of $16.40. The stock's fifty day moving average is $12.81 and its 200 day moving average is $13.82.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.48). The business had revenue of $13.05 billion during the quarter, compared to analysts' expectations of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same period in the previous year, the business earned $0.82 EPS. As a group, equities research analysts expect that Vale S.A. will post 2.33 earnings per share for the current fiscal year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were paid a $0.3182 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a yield of 9.7%. Vale's payout ratio is 64.48%.

Vale Company 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.