Oaktree Capital Management LP Reduces Stock Holdings in Vale S.A. $VALE

Oaktree Capital Management LP decreased its stake in shares of Vale S.A. (NYSE:VALE) by 66.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,033,706 shares of the basic materials company’s stock after selling 3,981,076 shares during the period. Oaktree Capital Management LP’s holdings in Vale were worth $19,747,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vontobel Holding Ltd. increased its position in Vale by 59.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 97,506 shares of the basic materials company’s stock valued at $947,000 after buying an additional 36,372 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Vale by 11.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 529,967 shares of the basic materials company’s stock worth $5,019,000 after purchasing an additional 55,543 shares during the last quarter. Royal Bank of Canada boosted its stake in Vale by 37.8% in the 1st quarter. Royal Bank of Canada now owns 1,463,665 shares of the basic materials company’s stock worth $14,608,000 after purchasing an additional 401,614 shares in the last quarter. Ascent Group LLC grew its position in Vale by 197.2% during the 1st quarter. Ascent Group LLC now owns 59,968 shares of the basic materials company’s stock valued at $598,000 after purchasing an additional 39,791 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Vale by 25.9% during the 1st quarter. Rhumbline Advisers now owns 166,125 shares of the basic materials company’s stock valued at $1,658,000 after purchasing an additional 34,185 shares in the last quarter. 21.85% of the stock is owned by institutional investors.

Vale Trading Up 2.0%

NYSE:VALE opened at $13.56 on Friday. The company has a market cap of $61.55 billion, a PE ratio of 10.43 and a beta of 0.57. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $11.79 and a two-hundred day simple moving average of $10.59. Vale S.A. has a 12 month low of $8.06 and a 12 month high of $13.62.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14. Vale had a return on equity of 18.60% and a net margin of 14.69%.The firm had revenue of $10.42 billion for the quarter, compared to analysts’ expectations of $10.39 billion. Research analysts forecast that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 12th will be paid a dividend of $0.2331 per share. The ex-dividend date is Friday, December 12th. Vale’s payout ratio is currently 56.15%.

Wall Street Analysts Forecast Growth

VALE has been the topic of several analyst reports. UBS Group upped their target price on shares of Vale from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Clarkson Capital assumed coverage on shares of Vale in a report on Wednesday, September 3rd. They issued a “buy” rating and a $12.00 price objective for the company. Scotiabank upgraded Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price on the stock in a research note on Thursday, September 18th. Hsbc Global Res raised Vale to a “strong-buy” rating in a report on Friday, October 17th. Finally, Wells Fargo & Company boosted their price target on Vale from $11.00 to $12.00 and gave the stock a “cautious” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.61.

About Vale

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.