Concurrent Investment Advisors LLC Acquires New Holdings in Vale S.A. (NYSE:VALE)

Concurrent Investment Advisors LLC acquired a new stake in shares of Vale S.A. (NYSE:VALE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 115,768 shares of the basic materials company’s stock, valued at approximately $1,293,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VALE. Versant Capital Management Inc bought a new stake in Vale in the first quarter worth about $26,000. Pacifica Partners Inc. purchased a new position in Vale in the 2nd quarter worth about $27,000. Richardson Financial Services Inc. purchased a new position in Vale in the 4th quarter worth about $31,000. GAMMA Investing LLC purchased a new position in Vale in the 4th quarter worth about $32,000. Finally, Lowe Wealth Advisors LLC purchased a new position in Vale in the 2nd quarter worth about $45,000. 21.85% of the stock is currently owned by institutional investors.

Vale Trading Down 0.3 %

Shares of NYSE VALE opened at $10.52 on Monday. The stock has a market cap of $47.16 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 3.58 and a beta of 0.96. The business has a 50 day simple moving average of $10.82 and a 200 day simple moving average of $11.82. Vale S.A. has a 52 week low of $9.66 and a 52 week high of $16.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. The business had revenue of $9.92 billion during the quarter, compared to analysts’ expectations of $9.97 billion. Vale had a return on equity of 22.23% and a net margin of 23.07%. On average, research analysts predict that Vale S.A. will post 2.13 earnings per share for the current fiscal year.

Vale Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 5th will be paid a $0.3698 dividend. This is a boost from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date is Monday, August 5th. This represents a dividend yield of 12.1%. Vale’s payout ratio is presently 64.09%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group dropped their price target on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Wolfe Research cut Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. Morgan Stanley lowered their target price on Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.72.

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.