Park Avenue Securities LLC Raises Position in Vale S.A. $VALE

Park Avenue Securities LLC grew its position in Vale S.A. (NYSE:VALE) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,935 shares of the basic materials company’s stock after acquiring an additional 1,087 shares during the period. Park Avenue Securities LLC’s holdings in Vale were worth $135,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VALE. GQG Partners LLC purchased a new stake in shares of Vale in the first quarter valued at about $371,778,000. Orbis Allan Gray Ltd boosted its holdings in Vale by 165.9% during the first quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company’s stock worth $311,955,000 after buying an additional 19,500,437 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Vale by 38.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 15,932,405 shares of the basic materials company’s stock worth $159,005,000 after buying an additional 4,389,959 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Vale during the first quarter worth about $36,118,000. Finally, Nuveen LLC purchased a new stake in Vale during the first quarter worth about $34,751,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

NYSE:VALE opened at $11.02 on Friday. The firm has a 50 day simple moving average of $10.31 and a 200-day simple moving average of $9.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85. The firm has a market cap of $50.00 billion, a PE ratio of 8.96 and a beta of 0.80. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $11.68.

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

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th were given a dividend of $0.3417 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a yield of 740.0%. Vale’s dividend payout ratio is 59.35%.

Wall Street Analysts Forecast Growth

VALE has been the topic of a number of research analyst reports. Scotiabank raised shares of Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 price objective on the stock in a report on Thursday, September 18th. Barclays boosted their price objective on shares of Vale from $13.50 to $13.70 and gave the stock an “overweight” rating in a report on Thursday, September 18th. 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 report on Thursday, September 4th. Zacks Research downgraded shares of Vale from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 9th. Finally, Clarkson Capital assumed coverage on shares of Vale in a report on Wednesday, September 3rd. They issued a “buy” rating and a $12.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.93.

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.