Allspring Global Investments Holdings LLC Sells 23,282 Shares of Vale S.A. (NYSE:VALE)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Vale S.A. (NYSE:VALE) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,441,683 shares of the basic materials company’s stock after selling 23,282 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Vale worth $27,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VALE. SPX Gestao de Recursos Ltda lifted its position in shares of Vale by 1,422.7% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock worth $136,175,000 after purchasing an additional 8,022,188 shares during the last quarter. Norden Group LLC raised its holdings in shares of Vale by 3,952.2% in the first quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock valued at $40,758,000 after acquiring an additional 3,261,060 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Vale by 22.0% in the fourth quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock valued at $195,319,000 after acquiring an additional 2,224,756 shares in the last quarter. Fourth Sail Capital LP bought a new stake in shares of Vale in the fourth quarter valued at about $22,007,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Vale in the fourth quarter valued at about $16,195,000. 21.85% of the stock is currently owned by institutional investors.

Vale Stock Performance

VALE opened at $10.89 on Wednesday. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. The company has a market cap of $48.82 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 3.57 and a beta of 0.96. The firm’s 50-day moving average price is $10.87 and its 200-day moving average price is $11.89.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. Vale had a net margin of 23.07% and a return on equity of 22.23%. The firm had revenue of $9.92 billion for the quarter, compared to the consensus estimate of $9.97 billion. As a group, equities analysts anticipate that Vale S.A. will post 2.13 EPS for the current fiscal year.

Vale Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.3698 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a dividend yield of 12.1%. This is an increase from Vale’s previous semi-annual dividend of $0.32. Vale’s dividend payout ratio is 64.09%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Vale from $18.00 to $15.50 and set an “overweight” rating for the company in a report on Friday, June 21st. BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. UBS Group decreased their price objective on Vale from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, July 5th. Finally, Wolfe Research downgraded shares of Vale from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.72.

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.