MGO One Seven LLC Trims Stake in Vale S.A. $VALE

MGO One Seven LLC trimmed its stake in Vale S.A. (NYSE:VALE) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,535 shares of the basic materials company’s stock after selling 4,066 shares during the period. MGO One Seven LLC’s holdings in Vale were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VALE. Banque Transatlantique SA purchased a new stake in shares of Vale in the 1st quarter worth $30,000. GAMMA Investing LLC increased its stake in shares of Vale by 98.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 2,021 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Vale by 193.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 2,713 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Vale in the 1st quarter worth $41,000. Finally, Thompson Investment Management Inc. bought a new position in Vale in the 2nd quarter worth $46,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Price Performance

VALE opened at $11.11 on Friday. The firm has a 50-day simple moving average of $10.57 and a two-hundred day simple moving average of $9.91. Vale S.A. has a 52 week low of $8.06 and a 52 week high of $11.33. The company has a market capitalization of $50.43 billion, a PE ratio of 9.03 and a beta of 0.80. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. Vale had a net margin of 14.23% and a return on equity of 18.14%. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $9.54 billion. Analysts forecast that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

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

Wall Street Analysts Forecast Growth

VALE has been the subject of several recent analyst reports. Barclays upped their target price on shares of Vale from $13.70 to $13.80 and gave the stock an “overweight” rating in a report on Friday, October 10th. 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 report on Monday, October 6th. Morgan Stanley set a $11.50 target price on shares of Vale in a report on Wednesday, October 8th. HSBC upped their target price on shares of Vale from $12.25 to $13.50 and gave the stock a “buy” rating in a report on Friday. Finally, Scotiabank raised shares of Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price for the company in a report on Thursday, September 18th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.09.

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.