RWC Asset Advisors US LLC cut its stake in Vale S.A. (NYSE:VALE – Free Report) by 22.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,409,837 shares of the basic materials company’s stock after selling 706,451 shares during the quarter. Vale makes up about 8.6% of RWC Asset Advisors US LLC’s portfolio, making the stock its 4th largest position. RWC Asset Advisors US LLC’s holdings in Vale were worth $32,316,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ramsey Quantitative Systems raised its stake in shares of Vale by 35.1% during the 3rd quarter. Ramsey Quantitative Systems now owns 5,000 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 1,300 shares during the period. Inspire Investing LLC boosted its stake in Vale by 19.8% in the 3rd quarter. Inspire Investing LLC now owns 7,141 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 1,179 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Vale by 1.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 160,936 shares of the basic materials company’s stock worth $2,158,000 after purchasing an additional 2,247 shares during the period. Focused Alpha LLC grew its holdings in Vale by 5.2% during the 3rd quarter. Focused Alpha LLC now owns 26,069 shares of the basic materials company’s stock valued at $350,000 after buying an additional 1,278 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Vale by 112.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 175,479 shares of the basic materials company’s stock valued at $2,353,000 after buying an additional 92,970 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors.
Vale Price Performance
Shares of NYSE VALE traded up $0.18 during midday trading on Friday, hitting $12.38. 25,696,226 shares of the company’s stock were exchanged, compared to its average volume of 34,516,964. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $14.13 and its two-hundred day moving average price is $15.14. The company has a market cap of $56.22 billion, a price-to-earnings ratio of 25.28 and a beta of 0.42. Vale S.A. has a 12-month low of $11.40 and a 12-month high of $17.94.
Vale (NYSE:VALE – Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.87%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.47 billion. As a group, research analysts forecast that Vale S.A. will post 1.65 EPS for the current fiscal year.
Vale Dividend Announcement
The business also recently declared a special dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 13th were issued a $0.3088 dividend. The ex-dividend date of this dividend was Thursday, August 13th. Vale’s dividend payout ratio is presently 89.80%.
Wall Street Analysts Forecast Growth
VALE has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Vale in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft set a $15.00 price target on shares of Vale in a report on Friday, October 16th. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price target (down from $18.00) on shares of Vale in a report on Wednesday, August 5th. Wells Fargo & Company lowered their price objective on Vale from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered Vale from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.71.
Get Our Latest Research Report on VALE
Vale Profile
Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.
Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.
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