Naviter Wealth LLC Grows Position in Vale S.A. (NYSE:VALE)

Naviter Wealth LLC increased its position in Vale S.A. (NYSE:VALE) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,416 shares of the basic materials company’s stock after buying an additional 3,604 shares during the quarter. Naviter Wealth LLC’s holdings in Vale were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its position in shares of Vale by 109.1% in the first quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock valued at $1,236,000 after acquiring an additional 52,906 shares during the period. Marshall Wace LLP increased its holdings in Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after purchasing an additional 5,707,969 shares during the period. Virtu Financial LLC bought a new position in Vale during the 1st quarter valued at approximately $1,379,000. Itau Unibanco Holding S.A. lifted its holdings in Vale by 10.4% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 5,398,881 shares of the basic materials company’s stock worth $58,690,000 after buying an additional 508,100 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Vale by 180.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 683,428 shares of the basic materials company’s stock worth $8,331,000 after buying an additional 439,733 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. BNP Paribas upgraded shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. StockNews.com assumed coverage on shares of Vale in a research note on Friday. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. cut their price objective on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Vale currently has an average rating of “Moderate Buy” and a consensus target price of $16.15.

Vale Stock Down 2.3 %

VALE stock opened at $10.73 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $10.71 and a 200 day moving average of $11.36. Vale S.A. has a twelve month low of $9.66 and a twelve month high of $16.08. The firm has a market cap of $48.10 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $9.92 billion during the quarter, compared to the consensus estimate of $9.97 billion. Vale had a return on equity of 22.23% and a net margin of 23.07%. On average, research analysts forecast that Vale S.A. will post 2.06 EPS for the current fiscal year.

Vale Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 5th were issued a $0.3698 dividend. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Vale’s previous semi-annual dividend of $0.32. This represents a yield of 12.1%. Vale’s payout ratio is 64.09%.

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.