Vale S.A. (NYSE:VALE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Vale S.A. (NYSE:VALE) by 58.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,391 shares of the basic materials company’s stock after selling 212,250 shares during the period. Rhumbline Advisers’ holdings in Vale were worth $1,691,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Vale by 22.0% in the fourth quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock valued at $195,319,000 after acquiring an additional 2,224,756 shares during the period. Lazard Asset Management LLC boosted its stake in Vale by 4.1% in the first quarter. Lazard Asset Management LLC now owns 12,269,261 shares of the basic materials company’s stock valued at $149,561,000 after acquiring an additional 485,702 shares during the period. Oaktree Capital Management LP boosted its stake in Vale by 8.1% in the fourth quarter. Oaktree Capital Management LP now owns 9,399,887 shares of the basic materials company’s stock valued at $149,082,000 after acquiring an additional 705,520 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in Vale by 1,422.7% in the fourth 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 during the period. Finally, Russell Investments Group Ltd. boosted its stake in Vale by 6.8% in the first quarter. Russell Investments Group Ltd. now owns 7,127,552 shares of the basic materials company’s stock valued at $86,885,000 after acquiring an additional 456,774 shares during the period. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Stock Down 3.4 %

Shares of VALE opened at $10.39 on Friday. The stock has a market cap of $46.58 billion, a price-to-earnings ratio of 5.74, a P/E/G ratio of 3.48 and a beta of 0.93. The company has a 50-day moving average price of $10.52 and a two-hundred day moving average price of $11.52. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. Vale S.A. has a 12 month low of $9.66 and a 12 month high of $16.08.

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

Vale Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 5th were given a $0.3698 dividend. This is a boost from Vale’s previous semi-annual dividend of $0.32. This represents a yield of 12.1%. The ex-dividend date was Monday, August 5th. Vale’s payout ratio is currently 64.09%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group reduced their price objective on Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. Morgan Stanley reduced their price objective on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research report on Thursday. Wolfe Research downgraded Vale from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 17th. Finally, BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.72.

Vale 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. 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.