Bayesian Capital Management LP Trims Stock Position in Vale S.A. (NYSE:VALE)

Bayesian Capital Management LP lessened its holdings in shares of Vale S.A. (NYSE:VALE) by 85.0% in the 1st quarter, HoldingsChannel reports. The firm owned 23,500 shares of the basic materials company’s stock after selling 133,000 shares during the quarter. Bayesian Capital Management LP’s holdings in Vale were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of Vale during the first quarter worth $26,000. Rakuten Securities Inc. purchased a new position in shares of Vale during the fourth quarter worth $31,000. Richardson Financial Services Inc. purchased a new position in shares of Vale during the fourth quarter worth $31,000. GAMMA Investing LLC purchased a new position in shares of Vale during the fourth quarter worth $32,000. Finally, Accordant Advisory Group Inc acquired a new stake in Vale during the first quarter valued at $43,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Barclays raised their price target on shares of Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Wolfe Research lowered shares of Vale from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 17th. Morgan Stanley dropped their price target on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, BNP Paribas upgraded shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.72.

Vale Stock Performance

VALE opened at $10.85 on Thursday. The firm has a market capitalization of $48.64 billion, a PE ratio of 5.99, a PEG ratio of 3.64 and a beta of 0.96. Vale S.A. has a twelve month low of $10.64 and a twelve month high of $16.08. The firm’s 50-day moving average price is $11.39 and its 200 day moving average price is $12.35. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Vale Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 5th will be given a dividend of $0.3698 per share. The ex-dividend date of this dividend is Monday, August 5th. This is a positive change from Vale’s previous semi-annual dividend of $0.32. This represents a yield of 12.1%. Vale’s payout ratio is presently 65.19%.

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.