Toronto Dominion Bank lowered its position in shares of Vale S.A. (NYSE:VALE) by 29.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,000 shares of the basic materials company’s stock after selling 850 shares during the quarter. Toronto Dominion Bank’s holdings in Vale were worth $46,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in Vale by 12.9% during the first quarter. First Trust Advisors LP now owns 129,487 shares of the basic materials company’s stock worth $1,691,000 after acquiring an additional 14,768 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Vale by 22.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 518,394 shares of the basic materials company’s stock valued at $6,769,000 after purchasing an additional 93,900 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Vale by 19.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 45,503 shares of the basic materials company’s stock valued at $790,000 after purchasing an additional 7,546 shares in the last quarter. The PNC Financial Services Group Inc. grew its position in shares of Vale by 16.1% in the 1st quarter. The PNC Financial Services Group Inc. now owns 60,281 shares of the basic materials company’s stock valued at $1,048,000 after purchasing an additional 8,356 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Vale by 40.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,320 shares of the basic materials company’s stock worth $527,000 after purchasing an additional 8,718 shares in the last quarter. 24.60% of the stock is owned by hedge funds and other institutional investors.
NYSE VALE opened at $14.49 on Friday. Vale S.A. has a 12 month low of $10.29 and a 12 month high of $23.17. The company has a current ratio of 1.77, a quick ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $19.47 and a 200-day moving average of $20.07. The company has a market cap of $74.31 billion, a PE ratio of 4.40, a PEG ratio of 0.10 and a beta of 0.98.
The firm also recently declared a semi-annual dividend, which will be paid on Friday, October 8th. Shareholders of record on Friday, September 24th will be given a dividend of $0.684 per share. This represents a yield of 16.36%. The ex-dividend date of this dividend is Thursday, September 23rd. This is an increase from Vale’s previous semi-annual dividend of $0.30. Vale’s payout ratio is 49.76%.
Several research firms have recently weighed in on VALE. HSBC cut shares of Vale from a “buy” rating to a “hold” rating and set a $15.50 price target for the company. in a report on Tuesday, September 21st. Zacks Investment Research cut Vale from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a report on Tuesday, August 24th. Royal Bank of Canada dropped their price target on Vale from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 2nd. Scotiabank reaffirmed an “outperform” rating and set a $26.00 price objective (up from $24.00) on shares of Vale in a research report on Monday, July 12th. Finally, UBS Group lowered Vale from a “buy” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Friday, September 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy 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 $19.66.
Vale Company Profile
Vale SA engages in the production and exportation of iron ore, pellets, manganese, and iron alloys. It operates through the following segments: Ferrous Minerals, Base Metals, and Coal. The Ferrous Minerals segment includes production and extraction of iron ore, iron ore pellets, manganese, other ferrous products, and logistic services.
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