Truist Financial Corp Sells 2,024 Shares of Vale S.A. (NYSE:VALE)

Truist Financial Corp lowered its holdings in Vale S.A. (NYSE:VALE) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,252 shares of the basic materials company’s stock after selling 2,024 shares during the period. Truist Financial Corp’s holdings in Vale were worth $360,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in shares of Vale by 4.1% during the 1st quarter. Lazard Asset Management LLC now owns 12,269,261 shares of the basic materials company’s stock worth $149,561,000 after acquiring an additional 485,702 shares during the period. Massachusetts Financial Services Co. MA increased its position in Vale by 27.8% during 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 in the last quarter. Mondrian Investment Partners LTD increased its position in Vale by 20.4% during the 2nd quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company’s stock worth $118,815,000 after purchasing an additional 1,854,940 shares in the last quarter. Marshall Wace LLP increased its position in Vale by 395.3% during 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Vale by 6.8% during the 1st quarter. Russell Investments Group Ltd. now owns 7,127,552 shares of the basic materials company’s stock worth $86,885,000 after purchasing an additional 456,774 shares in the last quarter. Institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VALE shares. JPMorgan Chase & Co. reduced their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. Scotiabank reduced their price objective on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Tuesday. StockNews.com began coverage on shares of Vale in a research note on Friday. They issued a “buy” rating on the stock. UBS Group cut their target price on shares of Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Finally, Morgan Stanley cut their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.15.

Vale Price Performance

VALE stock opened at $10.73 on Friday. The firm has a 50 day moving average of $10.71 and a 200-day moving average of $11.36. 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 12 month low of $9.66 and a 12 month high of $16.08. The firm has a market capitalization of $48.10 billion, a P/E ratio of 5.93, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93.

Vale (NYSE:VALE) last announced its 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. 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. As a group, sell-side analysts predict that Vale S.A. will post 2.06 earnings per share for the current fiscal year.

Vale Increases Dividend

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

Vale Company 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.