1832 Asset Management L.P. Sells 18,300 Shares of Vale S.A. (NYSE:VALE)

1832 Asset Management L.P. trimmed its holdings in shares of Vale S.A. (NYSE:VALE) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,600 shares of the basic materials company’s stock after selling 18,300 shares during the period. 1832 Asset Management L.P.’s holdings in Vale were worth $911,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in Vale during the first quarter worth about $26,000. Pacifica Partners Inc. bought a new position in shares of Vale during the 2nd quarter valued at approximately $27,000. Richardson Financial Services Inc. purchased a new stake in shares of Vale during the 4th quarter worth approximately $31,000. Lowe Wealth Advisors LLC bought a new stake in shares of Vale in the 2nd quarter worth approximately $45,000. Finally, Founders Capital Management lifted its stake in Vale by 111.1% in the first quarter. Founders Capital Management now owns 3,800 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 2,000 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.

Vale Price Performance

VALE stock opened at $11.80 on Friday. The firm has a market cap of $52.88 billion, a P/E ratio of 6.52, a P/E/G ratio of 3.52 and a beta of 0.93. The firm’s fifty day moving average is $10.48 and its 200 day moving average is $11.45. Vale S.A. has a 52 week low of $9.66 and a 52 week high of $16.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08.

Vale (NYSE:VALE) last issued its earnings results on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The company had revenue of $9.92 billion during the quarter, compared to analysts’ expectations of $9.97 billion. Vale had a return on equity of 22.23% and a net margin of 23.07%. Research analysts predict that Vale S.A. will post 2.14 earnings per share for the current year.

Vale Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th were issued a $0.3698 dividend. This is a boost from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date of this dividend was Monday, August 5th. This represents a dividend yield of 12.1%. Vale’s dividend payout ratio (DPR) is currently 64.09%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group lowered their target price on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Morgan Stanley dropped their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Wolfe Research lowered shares of Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday. Finally, BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Vale has a consensus rating of “Moderate Buy” and an average target price of $16.17.

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.