Rhumbline Advisers Sells 212,250 Shares of Vale S.A. (NYSE:VALE)

Rhumbline Advisers lowered its stake in shares of Vale S.A. (NYSE:VALE) by 58.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,391 shares of the basic materials company’s stock after selling 212,250 shares during the quarter. Rhumbline Advisers’ holdings in Vale were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Legacy Capital Group California Inc. raised its position in Vale by 6.9% during the second quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after acquiring an additional 1,154 shares in the last quarter. Bank of New York Mellon Corp raised its position in Vale by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after purchasing an additional 1,187 shares during the period. Inspire Advisors LLC raised its holdings in shares of Vale by 6.8% in the 1st quarter. Inspire Advisors LLC now owns 19,277 shares of the basic materials company’s stock valued at $235,000 after buying an additional 1,226 shares during the period. IFG Advisory LLC raised its holdings in shares of Vale by 6.1% in the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after buying an additional 1,296 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Vale by 3.0% in the 1st quarter. QRG Capital Management Inc. now owns 48,109 shares of the basic materials company’s stock valued at $586,000 after buying an additional 1,396 shares during the period. Institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. UBS Group lowered 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 note on Thursday. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. Finally, Wolfe Research downgraded Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.72.

Vale Stock Down 3.4 %

Shares of NYSE VALE opened at $10.39 on Friday. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08. The firm has a market cap of $46.58 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 3.48 and a beta of 0.93. 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 stock’s 50-day simple moving average is $10.52 and its 200-day simple moving average is $11.52.

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, topping analysts’ consensus estimates 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 analyst estimates of $9.97 billion. As a group, equities analysts anticipate that Vale S.A. will post 2.13 earnings per share for the current fiscal year.

Vale Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th were given a dividend of $0.3698 per share. This represents a dividend 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 presently 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.