Massachusetts Financial Services Co. MA Has $132.41 Million Stock Holdings in Vale S.A. (NYSE:VALE)

Massachusetts Financial Services Co. MA raised its position in Vale S.A. (NYSE:VALE) by 27.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,853,914 shares of the basic materials company’s stock after acquiring an additional 2,578,900 shares during the period. Massachusetts Financial Services Co. MA owned about 0.26% of Vale worth $132,408,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SPX Gestao de Recursos Ltda boosted its position in shares of Vale by 1,422.7% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock valued at $136,175,000 after acquiring an additional 8,022,188 shares in the last quarter. Norden Group LLC boosted its holdings in Vale by 3,952.2% during the first quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock valued at $40,758,000 after purchasing an additional 3,261,060 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Vale by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock valued at $60,983,000 after purchasing an additional 2,871,094 shares during the period. Wellington Management Group LLP raised its holdings in shares of Vale by 22.0% in the 4th quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock worth $195,319,000 after buying an additional 2,224,756 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Vale by 1,079.6% during the 2nd quarter. National Bank of Canada FI now owns 1,575,642 shares of the basic materials company’s stock worth $17,645,000 after buying an additional 1,442,063 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

VALE stock opened at $10.53 on Thursday. The company has a 50 day moving average price of $10.55 and a 200 day moving average price of $11.54. Vale S.A. has a fifty-two week low of $9.66 and a fifty-two week high of $16.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market capitalization of $47.18 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 3.48 and a beta of 0.93.

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

Vale Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th were paid a $0.3698 dividend. This represents a dividend yield of 12.1%. The ex-dividend date of this dividend was Monday, August 5th. This is a positive change from Vale’s previous semi-annual dividend of $0.32. Vale’s dividend payout ratio (DPR) is 64.09%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wolfe Research lowered Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. UBS Group reduced their price target on shares of Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, July 5th. Finally, Morgan Stanley cut their target price on shares of Vale from $18.00 to $15.50 and set an “overweight” rating for the company in a research note on Friday, June 21st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.