Atomi Financial Group Inc. Cuts Stock Holdings in Vale S.A. (NYSE:VALE)

Atomi Financial Group Inc. decreased its holdings in shares of Vale S.A. (NYSE:VALE) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,924 shares of the basic materials company’s stock after selling 7,035 shares during the quarter. Atomi Financial Group Inc.’s holdings in Vale were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SPX Gestao de Recursos Ltda grew its holdings in shares of Vale by 60.6% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock valued at $245,404,000 after purchasing an additional 8,288,112 shares during the last quarter. Marshall Wace LLP raised its position in Vale by 395.3% in the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after purchasing an additional 5,707,969 shares during the period. Norden Group LLC raised its position in Vale by 3,952.2% in the 1st quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock worth $40,758,000 after purchasing an additional 3,261,060 shares during the period. Van ECK Associates Corp raised its position in 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 worth $60,983,000 after purchasing an additional 2,871,094 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Vale by 27.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock worth $132,408,000 after purchasing an additional 2,578,900 shares during the period. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of VALE stock opened at $11.08 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market capitalization of $49.67 billion, a price-to-earnings ratio of 4.90, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93. Vale S.A. has a one year low of $9.66 and a one year high of $16.08. The company’s 50-day moving average is $10.65 and its 200 day moving average is $11.39.

Vale (NYSE:VALE) last issued its 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. Vale had a return on equity of 22.23% and a net margin of 23.07%. The business had revenue of $9.92 billion for the quarter, compared to the consensus estimate of $9.97 billion. Sell-side analysts expect that Vale S.A. will post 2.06 EPS for the current fiscal year.

Vale Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 5th were issued a $0.3698 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a yield of 12.1%. This is a boost from Vale’s previous semi-annual dividend of $0.32. Vale’s dividend payout ratio (DPR) is currently 51.33%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. JPMorgan Chase & Co. cut their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. Finally, UBS Group cut their price target on shares of Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, July 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.17.

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.