Man Group plc Has $46.46 Million Holdings in Vale S.A. $VALE

Man Group plc lessened its holdings in Vale S.A. (NYSE:VALE) by 57.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,089,267 shares of the basic materials company’s stock after selling 4,143,946 shares during the quarter. Man Group plc’s holdings in Vale were worth $46,463,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in shares of Vale by 4.9% in the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after acquiring an additional 3,704 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Vale by 46.6% in the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after buying an additional 11,964 shares during the last quarter. Empowered Funds LLC acquired a new position in Vale during the first quarter worth $171,000. Strs Ohio acquired a new position in Vale during the first quarter worth $117,000. Finally, Sivia Capital Partners LLC bought a new stake in Vale during the second quarter worth $123,000. Institutional investors own 21.85% of the company’s stock.

Vale Trading Down 1.0%

VALE stock opened at $15.17 on Thursday. Vale S.A. has a 52 week low of $10.08 and a 52 week high of $17.94. The company has a market capitalization of $68.86 billion, a PE ratio of 30.96 and a beta of 0.47. The company’s 50-day simple moving average is $14.67 and its 200 day simple moving average is $15.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.19.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.87%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. As a group, sell-side analysts anticipate that Vale S.A. will post 1.9 earnings per share for the current year.

Vale Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.3088 per share. The ex-dividend date is Thursday, August 13th. Vale’s dividend payout ratio (DPR) is 89.80%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VALE shares. Zacks Research cut shares of Vale from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. The Goldman Sachs Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $16.00 in a research note on Monday, July 27th. Scotiabank reduced their price target on Vale from $19.00 to $16.00 and set a “sector perform” rating for the company in a report on Monday, July 20th. Bank of America reissued a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Vale in a research report on Wednesday, August 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $16.50 price objective (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Vale currently has an average rating of “Hold” and a consensus price target of $16.00.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.