Vale S.A. (NYSE:VALE) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC raised its position in shares of Vale S.A. (NYSE:VALE) by 30.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 91,225 shares of the basic materials company’s stock after acquiring an additional 21,460 shares during the quarter. Naviter Wealth LLC’s holdings in Vale were worth $1,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its stake in Vale by 21.1% during the 3rd quarter. Invesco Ltd. now owns 17,752,878 shares of the basic materials company’s stock valued at $237,889,000 after acquiring an additional 3,092,376 shares in the last quarter. RWC Asset Advisors US LLC increased its holdings in shares of Vale by 0.7% in the fourth quarter. RWC Asset Advisors US LLC now owns 10,837,103 shares of the basic materials company’s stock valued at $171,876,000 after purchasing an additional 75,726 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Vale by 1.1% in the third quarter. Wellington Management Group LLP now owns 10,090,415 shares of the basic materials company’s stock valued at $135,212,000 after purchasing an additional 111,826 shares during the last quarter. Mondrian Investment Partners LTD boosted its stake in Vale by 1.7% during the third quarter. Mondrian Investment Partners LTD now owns 9,254,277 shares of the basic materials company’s stock worth $124,007,000 after buying an additional 150,918 shares during the last quarter. Finally, Oaktree Capital Management LP grew its holdings in Vale by 11.7% in the 3rd quarter. Oaktree Capital Management LP now owns 8,694,367 shares of the basic materials company’s stock valued at $116,505,000 after buying an additional 911,385 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America restated a “neutral” rating and set a $13.00 price target (down from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Barclays lifted their target price on Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. StockNews.com began coverage on Vale in a report on Saturday, March 30th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

Vale Stock Performance

NYSE VALE opened at $12.26 on Tuesday. The company has a fifty day moving average of $12.51 and a two-hundred day moving average of $13.74. The company has a market capitalization of $54.96 billion, a PE ratio of 6.90, a P/E/G ratio of 5.25 and a beta of 0.97. Vale S.A. has a 1 year low of $11.52 and a 1 year high of $16.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79.

Vale (NYSE:VALE) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.48). The firm had revenue of $13.05 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Vale had a net margin of 18.72% and a return on equity of 19.59%. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, analysts expect that Vale S.A. will post 2.25 earnings per share for the current year.

Vale Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a $0.3182 dividend. This represents a dividend yield of 9.7%. The ex-dividend date of this dividend was Tuesday, March 12th. Vale’s payout ratio is currently 65.19%.

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.