Bleakley Financial Group LLC Cuts Stock Position in Vale S.A. (NYSE:VALE)

Bleakley Financial Group LLC decreased its position in shares of Vale S.A. (NYSE:VALE) by 30.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,100 shares of the basic materials company’s stock after selling 35,130 shares during the period. Bleakley Financial Group LLC’s holdings in Vale were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VALE. Sunbelt Securities Inc. purchased a new stake in Vale during the 1st quarter worth $28,000. Systematic Alpha Investments LLC purchased a new stake in Vale during the 3rd quarter worth $31,000. Whittier Trust Co. increased its stake in Vale by 423.1% during the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after buying an additional 1,578 shares during the period. AdvisorNet Financial Inc increased its stake in Vale by 44.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock worth $36,000 after buying an additional 835 shares during the period. Finally, Sound Income Strategies LLC increased its stake in Vale by 2,502.8% during the 4th quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock worth $45,000 after buying an additional 2,728 shares during the period. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VALE shares. UBS Group raised their price objective on shares of Vale from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. StockNews.com started coverage on shares of Vale in a report on Saturday, March 30th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Bank of America reissued a “neutral” rating and set a $13.00 price objective (down from $20.00) on shares of Vale in a report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of Vale in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Vale presently has an average rating of “Moderate Buy” and a consensus target price of $16.36.

Vale Trading Up 0.2 %

Shares of NYSE:VALE opened at $12.18 on Friday. The company has a market cap of $54.58 billion, a PE ratio of 6.65 and a beta of 0.97. The company’s 50-day moving average price is $12.81 and its 200 day moving average price is $13.82. Vale S.A. has a fifty-two week low of $11.73 and a fifty-two week high of $16.60. The company has a quick ratio of 0.96, a current ratio of 1.28 and a debt-to-equity ratio of 0.38.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.48). The firm had revenue of $13.05 billion during the quarter, compared to the consensus estimate of $12.95 billion. Vale had a net margin of 19.10% and a return on equity of 20.00%. During the same quarter in the prior year, the business earned $0.82 earnings per share. Sell-side analysts anticipate that Vale S.A. will post 2.56 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. Investors of record on Wednesday, March 13th were given a $0.3182 dividend. The ex-dividend date was Tuesday, March 12th. This represents a yield of 9.7%. Vale’s dividend payout ratio is presently 64.48%.

About Vale

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.