Todd Asset Management LLC Has $59.79 Million Stake in Vale S.A. (NYSE:VALE)

Todd Asset Management LLC raised its stake in Vale S.A. (NYSE:VALE) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,770,076 shares of the basic materials company’s stock after acquiring an additional 453,259 shares during the period. Vale makes up 1.3% of Todd Asset Management LLC’s portfolio, making the stock its 10th largest holding. Todd Asset Management LLC owned approximately 0.08% of Vale worth $59,793,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Systematic Alpha Investments LLC bought a new stake in shares of Vale in the third quarter worth about $31,000. Whittier Trust Co. increased its stake in Vale by 423.1% in the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 1,578 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Vale during the 4th quarter worth approximately $31,000. GAMMA Investing LLC bought a new position in shares of Vale during the 4th quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC boosted its position in shares of Vale by 2,502.8% during the 4th quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 2,728 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

VALE has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Bank of America restated a “neutral” rating and set a $13.00 target price (down from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price target on shares of Vale in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, April 4th. Finally, StockNews.com assumed coverage on Vale in a report on Saturday, March 30th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vale has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Vale Trading Up 0.7 %

Shares of NYSE:VALE traded up $0.09 on Friday, hitting $12.61. 23,144,400 shares of the company’s stock were exchanged, compared to its average volume of 30,811,452. The business’s 50 day simple moving average is $12.43 and its two-hundred day simple moving average is $13.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79. The stock has a market capitalization of $56.53 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 5.44 and a beta of 0.97. Vale S.A. has a 12 month low of $11.52 and a 12 month high of $16.08.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). The company had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. Vale had a net margin of 18.72% and a return on equity of 19.59%. During the same quarter in the previous year, the business earned $0.82 EPS. Analysts anticipate that Vale S.A. will post 2.23 EPS for the current fiscal year.

Vale Cuts Dividend

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

Vale Company 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.