Mirae Asset Global Investments Co. Ltd. Purchases 535,058 Shares of Vale S.A. (NYSE:VALE)

Mirae Asset Global Investments Co. Ltd. increased its position in Vale S.A. (NYSE:VALEGet Rating) by 196.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,063 shares of the basic materials company’s stock after purchasing an additional 535,058 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vale were worth $16,154,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VALE. CWM LLC raised its position in Vale by 44.9% in the 1st quarter. CWM LLC now owns 15,562 shares of the basic materials company’s stock valued at $311,000 after buying an additional 4,823 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Vale by 319.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 2,059 shares of the basic materials company’s stock valued at $41,000 after buying an additional 1,568 shares during the last quarter. Veriti Management LLC raised its position in Vale by 60.8% in the 1st quarter. Veriti Management LLC now owns 79,002 shares of the basic materials company’s stock valued at $1,579,000 after buying an additional 29,872 shares during the last quarter. Capital International Investors raised its position in Vale by 8.6% in the 4th quarter. Capital International Investors now owns 203,688,052 shares of the basic materials company’s stock valued at $2,855,813,000 after buying an additional 16,114,413 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in Vale by 94.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 33,456 shares of the basic materials company’s stock valued at $669,000 after buying an additional 16,211 shares during the last quarter. 19.78% of the stock is currently owned by institutional investors.

Vale Trading Down 0.5 %

Shares of VALE opened at $12.98 on Monday. The business has a 50-day moving average of $13.06 and a 200 day moving average of $15.91. Vale S.A. has a fifty-two week low of $11.16 and a fifty-two week high of $21.29. The firm has a market cap of $59.59 billion, a P/E ratio of 3.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.32.

Vale (NYSE:VALEGet Rating) last issued its earnings results on Thursday, July 28th. The basic materials company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. Vale had a return on equity of 57.75% and a net margin of 41.72%. The business had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $11.67 billion. As a group, research analysts forecast that Vale S.A. will post 3.21 EPS for the current year.

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were paid a $0.3907 dividend. The ex-dividend date was Friday, August 12th. This represents a yield of 21.9%. Vale’s dividend payout ratio is currently 19.12%.

Analyst Ratings Changes

A number of equities research analysts recently commented on VALE shares. Clarkson Capital reissued a “buy” rating on shares of Vale in a research report on Tuesday, June 14th. Royal Bank of Canada raised Vale from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $15.00 to $16.00 in a research report on Monday, September 12th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Vale in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Vale from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, June 29th. Finally, Jefferies Financial Group raised Vale from a “hold” rating to a “buy” rating and raised their target price for the company from $17.00 to $24.00 in a research report on Tuesday, June 7th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.23.

About Vale

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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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

Further Reading

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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