Truist Financial Corp reduced its stake in shares of Vale S.A. (NYSE:VALE – Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,175 shares of the basic materials company’s stock after selling 10,393 shares during the period. Truist Financial Corp’s holdings in Vale were worth $1,817,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Schroder Investment Management Group boosted its stake in shares of Vale by 6.9% during the 4th quarter. Schroder Investment Management Group now owns 35,578,820 shares of the basic materials company’s stock worth $603,773,000 after acquiring an additional 2,305,324 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Vale by 93.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 31,188,702 shares of the basic materials company’s stock worth $529,272,000 after acquiring an additional 15,047,063 shares in the last quarter. State Street Corp boosted its stake in shares of Vale by 1.6% during the 2nd quarter. State Street Corp now owns 12,551,617 shares of the basic materials company’s stock worth $183,630,000 after acquiring an additional 198,699 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Vale by 9.0% during the 4th quarter. Mondrian Investment Partners LTD now owns 8,928,948 shares of the basic materials company’s stock worth $151,524,000 after acquiring an additional 739,805 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Vale by 14.2% in the 2nd quarter. Macquarie Group Ltd. now owns 7,532,847 shares of the basic materials company’s stock worth $110,206,000 after buying an additional 938,320 shares in the last quarter. 18.82% of the stock is currently owned by hedge funds and other institutional investors.
Vale Trading Up 1.0 %
Shares of VALE opened at $12.40 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $55.59 billion, a P/E ratio of 5.15 and a beta of 0.86. The stock’s fifty day simple moving average is $13.84 and its 200 day simple moving average is $14.82. Vale S.A. has a twelve month low of $11.72 and a twelve month high of $19.31.
Vale Increases Dividend
The company also recently announced a semi-annual dividend, which will be paid on Monday, September 11th. Investors of record on Tuesday, August 15th will be given a $0.4056 dividend. This is a positive change from Vale’s previous semi-annual dividend of $0.35. This represents a dividend yield of 5.1%. The ex-dividend date is Monday, August 14th. Vale’s dividend payout ratio (DPR) is 28.63%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on VALE shares. BNP Paribas lowered shares of Vale from a “neutral” rating to an “underperform” rating and set a $13.20 price objective on the stock. in a research report on Wednesday, June 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Vale in a research note on Thursday, July 20th. Scotiabank lowered Vale from a “sector outperform” rating to a “sector perform” rating and set a $16.00 target price on the stock. in a research note on Wednesday, June 28th. Jefferies Financial Group upped their target price on Vale from $16.00 to $18.00 in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on Vale in a research note on Thursday. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.97.
Get Our Latest Analysis on VALE
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.
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