Summit Trail Advisors LLC Acquires Shares of 38,057 Vale S.A. (NYSE:VALE)

Summit Trail Advisors LLC bought a new position in shares of Vale S.A. (NYSE:VALE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 38,057 shares of the basic materials company’s stock, valued at approximately $425,000.

Other large investors have also modified their holdings of the company. SPX Gestao de Recursos Ltda increased its holdings in shares of Vale by 1,422.7% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock valued at $136,175,000 after purchasing an additional 8,022,188 shares during the last quarter. Norden Group LLC raised its holdings in shares of Vale by 3,952.2% during the 1st quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock worth $40,758,000 after acquiring an additional 3,261,060 shares during the period. Van ECK Associates Corp boosted its position in shares of Vale by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock valued at $60,983,000 after acquiring an additional 2,871,094 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Vale by 27.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock valued at $132,408,000 after purchasing an additional 2,578,900 shares during the period. Finally, Wellington Management Group LLP increased its position in Vale by 22.0% during the fourth quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock worth $195,319,000 after purchasing an additional 2,224,756 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VALE shares. UBS Group decreased their target price 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. Morgan Stanley cut their target price on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research note on Thursday, September 19th. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. Wolfe Research cut Vale from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 17th. Finally, 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 report on Monday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.17.

Vale Price Performance

Shares of VALE opened at $10.40 on Tuesday. The company’s 50-day simple moving average is $10.49 and its 200-day simple moving average is $11.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08. The stock has a market capitalization of $46.62 billion, a PE ratio of 5.75, a P/E/G ratio of 3.48 and a beta of 0.93.

Vale (NYSE:VALE) last released 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 net margin of 23.07% and a return on equity of 22.23%. The company had revenue of $9.92 billion for the quarter, compared to analyst estimates of $9.97 billion. Analysts forecast that Vale S.A. will post 2.13 earnings per share for the current fiscal year.

Vale Increases Dividend

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