Todd Asset Management LLC boosted its stake in Vale S.A. (NYSE:VALE – Free Report) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,770,076 shares of the basic materials company’s stock after purchasing an additional 453,259 shares during the quarter. Vale makes up 1.3% of Todd Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Todd Asset Management LLC owned about 0.08% of Vale worth $59,793,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. boosted its position in shares of Vale by 423.1% in the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 1,578 shares during the period. Rakuten Securities Inc. purchased a new stake in Vale in the 4th quarter worth approximately $31,000. GAMMA Investing LLC bought a new position in Vale in the 4th quarter valued at $32,000. Systematic Alpha Investments LLC purchased a new position in shares of Vale during the 3rd quarter valued at $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Vale by 2,502.8% in the fourth quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 2,728 shares during the period. Hedge funds and other institutional investors own 21.85% of the company’s stock.
Vale Trading Up 0.7 %
NYSE:VALE traded up $0.09 during trading hours on Friday, reaching $12.61. The company’s stock had a trading volume of 23,144,400 shares, compared to its average volume of 30,811,452. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 1.12. The firm has a market capitalization of $56.53 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 5.44 and a beta of 0.97. The firm has a 50-day simple moving average of $12.43 and a 200-day simple moving average of $13.71. Vale S.A. has a 1 year low of $11.52 and a 1 year high of $16.08.
Vale (NYSE:VALE – Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.48). The company had revenue of $13.05 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Vale had a return on equity of 19.59% and a net margin of 18.72%. During the same quarter in the prior year, the firm posted $0.82 EPS. Research analysts expect that Vale S.A. will post 2.23 EPS for the current fiscal year.
Vale Cuts Dividend
The company also recently announced a semi-annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a $0.3182 dividend. This represents a dividend yield of 9.7%. The ex-dividend date of this dividend was Tuesday, March 12th. Vale’s dividend payout ratio is 65.19%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Bank of America reissued a “neutral” rating and set a $13.00 price objective (down previously from $20.00) on shares of Vale in a research note on Tuesday, April 9th. Barclays boosted their price objective on Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. StockNews.com began coverage on shares of Vale in a research note on Saturday, March 30th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of Vale in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.67.
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.