Koshinski Asset Management Inc. lifted its stake in Vale S.A. (NYSE:VALE – Get Rating) by 7.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,958 shares of the basic materials company’s stock after purchasing an additional 2,502 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Vale were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Sargent Bickham Lagudis LLC increased its holdings in Vale by 105.9% in the first quarter. Sargent Bickham Lagudis LLC now owns 1,256 shares of the basic materials company’s stock worth $25,000 after buying an additional 646 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Vale by 1,566.7% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,250 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,175 shares during the last quarter. Allworth Financial LP acquired a new position in Vale in the first quarter worth approximately $25,000. Vigilant Capital Management LLC acquired a new position in Vale in the second quarter worth approximately $25,000. Finally, Cornerstone Advisory LLC acquired a new position in Vale in the fourth quarter worth approximately $28,000. 19.78% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on VALE shares. Deutsche Bank Aktiengesellschaft lowered their price target on Vale from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, June 29th. BNP Paribas downgraded Vale from an “outperform” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Wednesday, July 13th. Jefferies Financial Group upgraded Vale from a “hold” rating to a “buy” rating and increased their price target for the company from $17.00 to $24.00 in a report on Tuesday, June 7th. Itau BBA Securities downgraded Vale from an “outperform” rating to a “market perform” rating and set a $15.00 price target on the stock. in a report on Wednesday, August 17th. Finally, StockNews.com started coverage on Vale in a report on Tuesday, September 13th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vale currently has an average rating of “Hold” and an average price target of $17.23.
Vale Trading Up 3.9 %
Vale (NYSE:VALE – Get Rating) last issued its earnings results on Thursday, July 28th. The basic materials company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. The firm had revenue of $11.16 billion during the quarter, compared to analysts’ expectations of $11.67 billion. Vale had a return on equity of 57.75% and a net margin of 41.72%. As a group, sell-side analysts expect that Vale S.A. will post 3.11 EPS for the current year.
Vale Cuts Dividend
The company also recently announced a semi-annual dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were given a $0.3907 dividend. The ex-dividend date was Friday, August 12th. This represents a yield of 21.9%. Vale’s dividend payout ratio (DPR) is currently 19.12%.
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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