Vanguard Group Inc. Sells 348,825 Shares of Vale S.A. (NYSE:VALE)

Vanguard Group Inc. decreased its holdings in Vale S.A. (NYSE:VALE) by 15.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,981,667 shares of the basic materials company’s stock after selling 348,825 shares during the quarter. Vanguard Group Inc.’s holdings in Vale were worth $26,554,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Vale in the 1st quarter valued at about $28,000. Systematic Alpha Investments LLC bought a new position in Vale in the 3rd quarter valued at about $31,000. AdvisorNet Financial Inc lifted its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Vale by 508.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the basic materials company’s stock worth $47,000 after buying an additional 2,910 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new position in shares of Vale during the 4th quarter worth approximately $53,000. Institutional investors own 21.85% of the company’s stock.

Vale Trading Down 1.2 %

Shares of VALE stock opened at $12.03 on Friday. Vale S.A. has a 12-month low of $11.73 and a 12-month high of $16.40. The firm has a market cap of $53.91 billion, a P/E ratio of 6.57, a PEG ratio of 3.39 and a beta of 0.97. 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 company has a 50 day moving average of $12.79 and a 200-day moving average of $13.81.

Vale (NYSE:VALE) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). Vale had a net margin of 19.10% and a return on equity of 20.00%. The business had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same period in the previous year, the firm earned $0.82 EPS. Sell-side analysts anticipate that Vale S.A. will post 2.33 earnings per share for the current year.

Vale Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.3182 per share. 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%.

Wall Street Analysts Forecast Growth

Several research firms have commented on VALE. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 target price on shares of Vale in a research report on Monday, February 12th. JPMorgan Chase & Co. dropped their target price on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com began coverage on shares of Vale in a research report on Saturday, March 30th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, April 4th. Finally, Bank of America reissued a “neutral” rating and set a $13.00 target price (down previously from $20.00) on shares of Vale in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Vale currently has an average rating of “Moderate Buy” and a consensus target price of $16.52.

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.