Truist Financial Corp Has $403,000 Position in Vale S.A. $VALE

Truist Financial Corp decreased its holdings in shares of Vale S.A. (NYSE:VALE) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,527 shares of the basic materials company’s stock after selling 2,192 shares during the quarter. Truist Financial Corp’s holdings in Vale were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Park Avenue Securities LLC lifted its holdings in shares of Vale by 8.5% during the second quarter. Park Avenue Securities LLC now owns 13,935 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 1,087 shares during the period. MAI Capital Management increased its position in shares of Vale by 5.1% during the 1st quarter. MAI Capital Management now owns 23,597 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 1,155 shares in the last quarter. Blue Trust Inc. grew its stake in Vale by 5.1% during the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company’s stock worth $258,000 after buying an additional 1,248 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in Vale by 14.4% during the first quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company’s stock worth $130,000 after buying an additional 1,757 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in Vale by 5.7% during the first quarter. Checchi Capital Advisers LLC now owns 37,339 shares of the basic materials company’s stock worth $373,000 after buying an additional 1,997 shares during the last quarter. Institutional investors own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Vale in a research note on Wednesday, October 8th. Morgan Stanley set a $11.50 target price on Vale in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Vale from $15.00 to $13.50 and set an “overweight” rating for the company in a research note on Thursday, September 4th. Clarkson Capital assumed coverage on shares of Vale in a report on Wednesday, September 3rd. They set a “buy” rating and a $12.00 target price for the company. Finally, UBS Group increased their price target on Vale from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.96.

Vale Trading Down 0.5%

Vale stock opened at $11.11 on Friday. Vale S.A. has a one year low of $8.06 and a one year high of $11.33. The company has a market cap of $50.43 billion, a price-to-earnings ratio of 9.03 and a beta of 0.80. 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 50-day moving average of $10.55 and a 200-day moving average of $9.90.

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

Vale Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th were paid a $0.3417 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale’s dividend payout ratio (DPR) is currently 59.35%.

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.