Ninety One UK Ltd acquired a new stake in shares of Vale SA (NYSE:VALE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,825,382 shares of the basic materials company’s stock, valued at approximately $70,370,000. Ninety One UK Ltd owned about 0.13% of Vale as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Vale by 52.9% during the 1st quarter. Invesco Ltd. now owns 55,314,396 shares of the basic materials company’s stock valued at $458,556,000 after buying an additional 19,133,256 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Vale by 52.0% in the 2nd quarter. Fisher Asset Management LLC now owns 41,487,299 shares of the basic materials company’s stock worth $427,734,000 after acquiring an additional 14,201,438 shares during the last quarter. FMR LLC increased its stake in shares of Vale by 23.6% in the 2nd quarter. FMR LLC now owns 10,888,659 shares of the basic materials company’s stock worth $112,261,000 after acquiring an additional 2,079,637 shares during the last quarter. FIL Ltd increased its position in shares of Vale by 6.7% during the 2nd quarter. FIL Ltd now owns 7,963,539 shares of the basic materials company’s stock worth $82,104,000 after purchasing an additional 500,454 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Vale by 298.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,950,778 shares of the basic materials company’s stock worth $61,353,000 after purchasing an additional 4,458,107 shares during the last quarter. Institutional investors and hedge funds own 18.40% of the company’s stock.
A number of equities analysts recently commented on VALE shares. Zacks Investment Research upgraded Vale from a “hold” rating to a “strong-buy” rating and set a $13.00 target price for the company in a report on Tuesday. Deutsche Bank lifted their price target on Vale from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. BNP Paribas raised Vale from a “neutral” rating to an “outperform” rating in a research report on Friday, June 5th. ValuEngine lowered Vale from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 18th. Finally, Royal Bank of Canada dropped their price objective on Vale from $16.30 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.71.
Vale (NYSE:VALE) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.11). The business had revenue of $7.52 billion during the quarter, compared to analyst estimates of $7.13 billion. Vale had a net margin of 3.82% and a return on equity of 17.48%. As a group, equities analysts predict that Vale SA will post 1.62 EPS for the current year.
The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 23rd will be paid a $0.2675 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a yield of 1.9%. Vale’s payout ratio is currently 13.75%.
Vale Company 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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services; and provides related logistic services.
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