Syntax Research Inc. Raises Stake in Vale S.A. (NYSE:VALE)

Syntax Research Inc. increased its stake in shares of Vale S.A. (NYSE:VALE) by 1,379.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 251,250 shares of the basic materials company’s stock after purchasing an additional 234,267 shares during the period. Vale accounts for 1.6% of Syntax Research Inc.’s investment portfolio, making the stock its 25th largest position. Syntax Research Inc.’s holdings in Vale were worth $2,229,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Vale in the 3rd quarter valued at about $1,126,000. Bank of Montreal Can raised its holdings in shares of Vale by 274.4% in the 3rd quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock valued at $1,915,000 after acquiring an additional 119,061 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of Vale by 723.2% in the 3rd quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after acquiring an additional 1,788,205 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Vale in the 3rd quarter valued at about $1,422,000. Finally, NFJ Investment Group LLC raised its holdings in shares of Vale by 17.6% in the 3rd quarter. NFJ Investment Group LLC now owns 469,036 shares of the basic materials company’s stock valued at $5,478,000 after acquiring an additional 70,278 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

VALE opened at $10.08 on Monday. The stock’s 50 day simple moving average is $9.48 and its 200 day simple moving average is $9.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. Vale S.A. has a 1 year low of $8.38 and a 1 year high of $13.14. The firm has a market cap of $45.73 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.31 and a beta of 0.85.

Vale (NYSE:VALE) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.36). Vale had a return on equity of 17.38% and a net margin of 16.15%. The company had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $10.03 billion. As a group, analysts predict that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.3758 per share. This represents a yield of 7.5%. This is a positive change from Vale’s previous semi-annual dividend of $0.30. The ex-dividend date was Monday, March 10th. Vale’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Ratings Changes

Several research firms have weighed in on VALE. Barclays lowered their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Scotiabank lowered their price target on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $14.50 to $11.30 in a report on Thursday, December 12th. Wolfe Research raised Vale from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price objective on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.26.

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.