Victory Capital Management Inc. Raises Stock Position in Vale S.A. (NYSE:VALE)

Victory Capital Management Inc. grew its stake in shares of Vale S.A. (NYSE:VALE) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,115 shares of the basic materials company’s stock after purchasing an additional 4,330 shares during the period. Victory Capital Management Inc.’s holdings in Vale were worth $392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Vale by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,965,164 shares of the basic materials company’s stock worth $47,029,000 after acquiring an additional 142,106 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Vale by 60.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 104,536 shares of the basic materials company’s stock valued at $1,658,000 after purchasing an additional 39,234 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Vale in the 4th quarter worth approximately $1,246,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Vale by 85.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 491,207 shares of the basic materials company’s stock worth $7,791,000 after buying an additional 225,806 shares during the last quarter. Finally, US Bancorp DE increased its position in Vale by 73.5% during the 4th quarter. US Bancorp DE now owns 59,626 shares of the basic materials company’s stock valued at $946,000 after buying an additional 25,254 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

VALE has been the topic of several analyst reports. UBS Group dropped their target price on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, July 5th. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Morgan Stanley decreased their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Wolfe Research cut shares of Vale from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Vale has a consensus rating of “Moderate Buy” and an average target price of $16.17.

Vale Price Performance

Shares of VALE opened at $10.40 on Tuesday. The firm has a fifty day simple moving average of $10.49 and a two-hundred day simple moving average of $11.47. The firm has a market cap of $46.62 billion, a PE ratio of 5.75, a P/E/G ratio of 3.48 and a beta of 0.93. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.43. Vale S.A. has a 1-year low of $9.66 and a 1-year high of $16.08.

Vale (NYSE:VALE) last posted its 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. The company had revenue of $9.92 billion for the quarter, compared to the consensus estimate of $9.97 billion. Vale had a return on equity of 22.23% and a net margin of 23.07%. On average, equities analysts anticipate 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. Investors of record on Monday, August 5th were given a dividend of $0.3698 per share. This represents a yield of 12.1%. This is a positive change from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date was Monday, August 5th. Vale’s payout ratio is 64.09%.

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.