State of Wyoming Sells 5,610 Shares of Vale S.A. $VALE

State of Wyoming cut its holdings in Vale S.A. (NYSE:VALE) by 46.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,410 shares of the basic materials company’s stock after selling 5,610 shares during the period. State of Wyoming’s holdings in Vale were worth $64,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in Vale in the first quarter worth approximately $41,000. Golden State Wealth Management LLC raised its position in Vale by 193.0% in the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 2,713 shares during the period. Capital Analysts LLC bought a new position in Vale in the first quarter worth approximately $51,000. Allworth Financial LP raised its position in Vale by 233.7% in the first quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 3,810 shares during the period. Finally, Wayfinding Financial LLC bought a new position in Vale in the first quarter worth approximately $64,000. 21.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $10.00 price target (up from $9.00) on shares of Vale in a research report on Monday, August 4th. Clarkson Capital began coverage on shares of Vale in a research report on Wednesday, September 3rd. They set a “buy” rating and a $12.00 price objective on the stock. CICC Research began coverage on shares of Vale in a research report on Monday, May 12th. They set an “outperform” rating and a $11.30 price objective on the stock. Barclays raised their price objective on shares of Vale from $12.75 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Vale from $15.00 to $13.50 and set an “overweight” rating on the stock in a research report on Thursday, September 4th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.71.

Vale Stock Up 0.6%

Shares of VALE stock opened at $10.47 on Tuesday. The company has a market capitalization of $47.50 billion, a price-to-earnings ratio of 8.51 and a beta of 0.79. The company’s fifty day moving average price is $10.03 and its 200-day moving average price is $9.69. Vale S.A. has a one year low of $8.06 and a one year high of $12.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85.

Vale (NYSE:VALE) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $9.54 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. Sell-side analysts expect that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th will be paid a dividend of $0.3417 per share. This represents a yield of 740.0%. The ex-dividend date of this dividend is Wednesday, August 13th. Vale’s dividend payout ratio (DPR) is presently 58.54%.

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.