Allworth Financial LP Acquires 2,299 Shares of Vale S.A. (NYSE:VALE)

Allworth Financial LP grew its holdings in Vale S.A. (NYSE:VALE) by 161.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,720 shares of the basic materials company’s stock after acquiring an additional 2,299 shares during the quarter. Allworth Financial LP’s holdings in Vale were worth $59,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VALE. BlackRock Inc. increased its holdings in shares of Vale by 18.7% in the first quarter. BlackRock Inc. now owns 72,165,728 shares of the basic materials company’s stock worth $1,138,775,000 after acquiring an additional 11,393,498 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Vale by 57.8% during the first quarter. Bank of America Corp DE now owns 22,763,893 shares of the basic materials company’s stock worth $359,214,000 after buying an additional 8,334,786 shares in the last quarter. RWC Asset Advisors US LLC grew its holdings in shares of Vale by 162.4% during the third quarter. RWC Asset Advisors US LLC now owns 10,761,377 shares of the basic materials company’s stock worth $144,202,000 after buying an additional 6,660,917 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Vale by 52.3% during the second quarter. Lazard Asset Management LLC now owns 13,783,862 shares of the basic materials company’s stock worth $184,978,000 after buying an additional 4,733,169 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Vale by 21.1% during the third quarter. Invesco Ltd. now owns 17,752,878 shares of the basic materials company’s stock worth $237,889,000 after buying an additional 3,092,376 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VALE. Bank of America reiterated a “neutral” rating and set a $13.00 price objective (down from $20.00) on shares of Vale in a report on Tuesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price target on shares of Vale in a research report on Monday, February 12th. StockNews.com started coverage on Vale in a research report on Saturday, March 30th. They set a “buy” rating for the company. JPMorgan Chase & Co. reduced their price target on Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.52.

Vale Stock Performance

VALE opened at $12.02 on Friday. Vale S.A. has a 12-month low of $11.73 and a 12-month high of $16.40. The stock has a market cap of $53.89 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 3.40 and a beta of 0.97. The business has a 50 day moving average of $12.79 and a 200-day moving average of $13.81. 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 released its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 posted $0.82 earnings per share. On average, equities research analysts expect that Vale S.A. will post 2.33 earnings per share for the current 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 issued a dividend of $0.3182 per share. The ex-dividend date was Tuesday, March 12th. This represents a yield of 9.7%. Vale’s payout ratio is currently 64.48%.

Vale 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.