Geode Capital Management LLC Has $406,000 Stock Holdings in Vale S.A. (NYSE:VALE)

Geode Capital Management LLC trimmed its holdings in Vale S.A. (NYSE:VALE) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,761 shares of the basic materials company’s stock after selling 5,958 shares during the period. Geode Capital Management LLC’s holdings in Vale were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Vale by 328.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company’s stock worth $153,891,000 after buying an additional 13,298,912 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Vale by 106.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 9,721,066 shares of the basic materials company’s stock valued at $86,226,000 after purchasing an additional 5,001,228 shares during the period. Fourth Sail Capital LP bought a new stake in shares of Vale in the 4th quarter valued at about $31,305,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Vale by 25.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,965,672 shares of the basic materials company’s stock valued at $88,396,000 after purchasing an additional 2,014,652 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Vale by 64.6% during the fourth quarter. Wellington Management Group LLP now owns 3,713,475 shares of the basic materials company’s stock worth $32,939,000 after purchasing an additional 1,457,586 shares during the period. 21.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on VALE. Scotiabank cut their price target on Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $11.00 price target (down from $12.00) on shares of Vale in a research note on Thursday, April 17th. Wolfe Research raised shares of Vale from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. StockNews.com assumed coverage on Vale in a research note on Wednesday, April 2nd. They issued a “hold” rating for the company. Finally, UBS Group reduced their price target on Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.13.

Vale Price Performance

Vale stock opened at $9.37 on Friday. The stock has a fifty day moving average of $9.51 and a 200-day moving average of $9.58. The stock has a market capitalization of $42.53 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 0.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. Vale S.A. has a 52 week low of $8.06 and a 52 week high of $13.14.

Vale (NYSE:VALE) last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Vale had a net margin of 16.15% and a return on equity of 17.38%. The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.39 billion. On average, sell-side analysts expect that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $0.3758 per share. This is a boost from Vale’s previous semi-annual dividend of $0.30. This represents a dividend yield of 7.5%. The ex-dividend date of this dividend was Monday, March 10th. Vale’s payout ratio is 54.35%.

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.