Sheaff Brock Investment Advisors LLC acquired a new position in shares of Vale S.A. (NYSE:VALE – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,860 shares of the basic materials company’s stock, valued at approximately $217,000.
A number of other institutional investors have also recently added to or reduced their stakes in VALE. Capital International Investors lifted its position in Vale by 8.6% during the fourth quarter. Capital International Investors now owns 203,688,052 shares of the basic materials company’s stock worth $2,855,813,000 after buying an additional 16,114,413 shares in the last quarter. Lazard Asset Management LLC lifted its position in Vale by 916.4% during the fourth quarter. Lazard Asset Management LLC now owns 12,794,140 shares of the basic materials company’s stock worth $179,373,000 after buying an additional 11,535,429 shares in the last quarter. Schroder Investment Management Group lifted its position in Vale by 76.4% during the fourth quarter. Schroder Investment Management Group now owns 24,691,781 shares of the basic materials company’s stock worth $346,178,000 after buying an additional 10,693,528 shares in the last quarter. Soroban Capital Partners LP purchased a new position in Vale during the fourth quarter worth approximately $107,884,000. Finally, Renaissance Technologies LLC increased its stake in Vale by 105.2% during the fourth quarter. Renaissance Technologies LLC now owns 8,999,759 shares of the basic materials company’s stock worth $126,177,000 after acquiring an additional 4,614,704 shares during the last quarter. Hedge funds and other institutional investors own 23.37% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on VALE. StockNews.com began coverage on Vale in a research note on Tuesday, May 31st. They set a “buy” rating for the company. Exane BNP Paribas cut Vale from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Wednesday, July 13th. BNP Paribas cut Vale from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Wednesday, July 13th. Morgan Stanley reissued an “equal weight” rating on shares of Vale in a research note on Thursday, June 23rd. Finally, Clarkson Capital reissued a “buy” rating on shares of Vale in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Vale has an average rating of “Hold” and a consensus price target of $17.65.
Vale Trading Up 2.6 %
Vale Cuts Dividend
The business also recently announced a semi-annual dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid a dividend of $0.3907 per share. The ex-dividend date is Friday, August 12th. This represents a yield of 21.9%. Vale’s payout ratio is 35.54%.
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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.
- Get a free copy of the StockNews.com research report on Vale (VALE)
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