Bank of New York Mellon Corp Increases Stake in Vale S.A. (NYSE:VALE)

Bank of New York Mellon Corp lifted its position in Vale S.A. (NYSE:VALE) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,076 shares of the basic materials company’s stock after acquiring an additional 1,187 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vale were worth $693,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VALE. Legacy Capital Group California Inc. lifted its stake in Vale by 6.9% in the second quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 1,154 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of Vale by 6.8% during the 1st quarter. Inspire Advisors LLC now owns 19,277 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 1,226 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Vale by 3.0% during the 1st quarter. QRG Capital Management Inc. now owns 48,109 shares of the basic materials company’s stock valued at $586,000 after acquiring an additional 1,396 shares during the period. Gould Asset Management LLC CA grew its position in Vale by 12.7% in the 1st quarter. Gould Asset Management LLC CA now owns 15,940 shares of the basic materials company’s stock valued at $194,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Vale by 16.3% in the 4th quarter. Parallel Advisors LLC now owns 13,551 shares of the basic materials company’s stock valued at $215,000 after acquiring an additional 1,901 shares during the last quarter. Institutional investors own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VALE shares. UBS Group decreased their price objective on shares of Vale from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, July 5th. Morgan Stanley dropped their price objective on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday. Wolfe Research lowered Vale from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 17th. Finally, BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vale has an average rating of “Moderate Buy” and an average price target of $16.72.

Vale Stock Performance

Shares of VALE stock opened at $10.40 on Monday. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08. 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 firm has a market cap of $46.62 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 3.48 and a beta of 0.93. The stock’s 50-day moving average is $10.52 and its two-hundred day moving average is $11.49.

Vale (NYSE:VALE) last issued its quarterly 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. The firm had revenue of $9.92 billion for the quarter, compared to analysts’ expectations of $9.97 billion. Vale had a return on equity of 22.23% and a net margin of 23.07%. Analysts predict that Vale S.A. will post 2.13 earnings per share for the current year.

Vale Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 5th were given a dividend of $0.3698 per share. This is a positive change from Vale’s previous semi-annual dividend of $0.32. This represents a yield of 12.1%. The ex-dividend date was Monday, August 5th. Vale’s dividend payout ratio is presently 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.