Vale S.A. (NYSE:VALE) Declares $0.15 — Dividend

Vale S.A. (NYSE:VALE) announced a — dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Friday, November 24th will be paid a dividend of 0.1541 per share by the basic materials company on Friday, December 8th. This represents a dividend yield of 8.6%. The ex-dividend date is Wednesday, November 22nd.

Vale has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Vale to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 25.3%.

Vale Trading Up 3.4 %

Shares of NYSE VALE opened at $15.65 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.70 and a current ratio of 1.08. The business’s 50 day moving average price is $13.70 and its 200-day moving average price is $13.67. Vale has a fifty-two week low of $12.22 and a fifty-two week high of $19.31. The company has a market cap of $70.16 billion, a price-to-earnings ratio of 7.49 and a beta of 0.90.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. Vale had a return on equity of 23.82% and a net margin of 22.84%. The firm had revenue of $10.62 billion for the quarter, compared to the consensus estimate of $10.52 billion. During the same period in the prior year, the business posted $0.98 earnings per share. On average, sell-side analysts expect that Vale will post 2.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VALE shares. JPMorgan Chase & Co. increased their price target on Vale from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, September 14th. Deutsche Bank Aktiengesellschaft cut Vale from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $18.00 to $17.00 in a research note on Thursday, November 16th. Royal Bank of Canada increased their price objective on Vale from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Bank of America raised Vale from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday. Finally, StockNews.com raised Vale from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vale presently has a consensus rating of “Moderate Buy” and an average price target of $17.02.

Hedge Funds Weigh In On Vale

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new stake in shares of Vale in the first quarter worth about $28,000. Tower Research Capital LLC TRC lifted its position in shares of Vale by 508.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 2,910 shares in the last quarter. Money Concepts Capital Corp purchased a new position in shares of Vale in the fourth quarter valued at approximately $53,000. Penserra Capital Management LLC lifted its position in shares of Vale by 51.3% in the fourth quarter. Penserra Capital Management LLC now owns 4,763 shares of the basic materials company’s stock valued at $80,000 after acquiring an additional 1,615 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Vale in the first quarter valued at approximately $103,000. Hedge funds and other institutional investors own 16.90% of the company’s stock.

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.