Naviter Wealth LLC Buys New Position in Vale S.A. $VALE

Naviter Wealth LLC bought a new stake in shares of Vale S.A. (NYSE:VALE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 47,154 shares of the basic materials company’s stock, valued at approximately $458,000.

Several other hedge funds also recently modified their holdings of the stock. Moran Wealth Management LLC boosted its position in shares of Vale by 2.7% during the second quarter. Moran Wealth Management LLC now owns 58,834 shares of the basic materials company’s stock valued at $571,000 after buying an additional 1,537 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Vale by 46.5% in the second quarter. Sequoia Financial Advisors LLC now owns 24,929 shares of the basic materials company’s stock worth $242,000 after purchasing an additional 7,915 shares during the last quarter. Yousif Capital Management LLC boosted its position in Vale by 10.1% in the second quarter. Yousif Capital Management LLC now owns 40,389 shares of the basic materials company’s stock worth $392,000 after purchasing an additional 3,715 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Vale in the second quarter worth $231,000. Finally, Thompson Investment Management Inc. purchased a new position in Vale in the second quarter worth $46,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of VALE opened at $10.97 on Wednesday. The firm has a market cap of $49.77 billion, a PE ratio of 8.91 and a beta of 0.80. The stock’s fifty day moving average price is $10.50 and its two-hundred day moving average price is $9.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $11.33.

Vale (NYSE:VALE) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $9.54 billion. Vale had a return on equity of 18.14% and a net margin of 14.23%. On average, equities research analysts forecast that Vale S.A. will post 1.85 EPS for the current year.

Vale Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th were paid a dividend of $0.3417 per share. This represents a dividend yield of 740.0%. The ex-dividend date was Wednesday, August 13th. Vale’s payout ratio is presently 59.35%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley set a $11.50 price objective on Vale in a research report on Wednesday, October 8th. Barclays boosted their price objective on Vale from $13.70 to $13.80 and gave the stock an “overweight” rating in a research report on Friday. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 price objective on the stock in a research report on Thursday, September 18th. Zacks Research raised Vale from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Vale in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.96.

Vale 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.