Fourth Sail Capital LP bought a new stake in shares of Vale S.A. (NYSE:VALE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,387,600 shares of the basic materials company's stock, valued at approximately $22,007,000. Vale accounts for approximately 6.8% of Fourth Sail Capital LP's investment portfolio, making the stock its 5th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Systematic Alpha Investments LLC acquired a new position in Vale in the 3rd quarter valued at approximately $31,000. Whittier Trust Co. raised its holdings 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 in the last quarter. Rakuten Securities Inc. acquired a new position in Vale in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new position in Vale in the 4th quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC raised its holdings in Vale by 2,502.8% in the 4th quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company's stock valued at $45,000 after acquiring an additional 2,728 shares in the last quarter. Institutional investors own 21.85% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on VALE shares. JPMorgan Chase & Co. cut their price target on Vale from $20.50 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $19.00 target price on shares of Vale in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Vale from $18.00 to $16.00 and set a "hold" rating for the company in a report on Thursday, April 4th. StockNews.com initiated coverage on Vale in a report on Saturday, March 30th. They issued a "buy" rating for the company. Finally, Bank of America reissued a "neutral" rating and issued a $13.00 target price (down from $20.00) on shares of Vale in a report on Tuesday, April 9th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.67.
View Our Latest Research Report on Vale
Vale Price Performance
VALE stock traded up $0.02 during midday trading on Wednesday, reaching $12.19. 14,475,040 shares of the company's stock traded hands, compared to its average volume of 26,775,227. The company has a 50-day simple moving average of $12.46 and a two-hundred day simple moving average of $13.73. Vale S.A. has a 1-year low of $11.52 and a 1-year high of $16.08. The company has a market cap of $54.65 billion, a price-to-earnings ratio of 6.73, a PEG ratio of 5.34 and a beta of 0.97. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.41.
Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.48). The business had revenue of $13.05 billion for the quarter, compared to analyst estimates of $12.95 billion. Vale had a net margin of 18.72% and a return on equity of 19.59%. During the same period in the prior year, the business earned $0.82 earnings per share. On average, analysts anticipate that Vale S.A. will post 2.25 earnings per share for the current year.
Vale Cuts Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were given 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 65.19%.
About Vale
(
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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