Bank of New York Mellon Corp Sells 2,258 Shares of Vale S.A. (NYSE:VALE)

Bank of New York Mellon Corp cut its holdings in Vale S.A. (NYSE:VALE) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,975 shares of the basic materials company’s stock after selling 2,258 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vale were worth $701,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VALE. Principal Financial Group Inc. raised its stake in shares of Vale by 1.0% in the third quarter. Principal Financial Group Inc. now owns 158,561 shares of the basic materials company’s stock worth $1,852,000 after purchasing an additional 1,494 shares during the last quarter. Stock Yards Bank & Trust Co. increased its holdings in Vale by 16.8% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 11,982 shares of the basic materials company’s stock worth $140,000 after buying an additional 1,725 shares in the last quarter. Brooklyn Investment Group raised its position in Vale by 215.9% in the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,900 shares during the last quarter. IFP Advisors Inc lifted its stake in Vale by 206.4% during the 4th quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 1,938 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vale during the 3rd quarter valued at about $28,000. 21.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VALE. StockNews.com initiated coverage on shares of Vale in a research report on Tuesday. They set a “hold” rating on the stock. Jefferies Financial Group dropped their price target on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Scotiabank dropped their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Vale has an average rating of “Hold” and a consensus price target of $13.26.

Vale Trading Up 0.5 %

Vale stock opened at $10.14 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale S.A. has a 12-month low of $8.38 and a 12-month high of $13.14. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.31 and a beta of 0.85. The firm has a 50 day moving average of $9.56 and a 200 day moving average of $9.89.

Vale (NYSE:VALE) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.36). Vale had a net margin of 16.15% and a return on equity of 17.38%. The firm had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $10.03 billion. As a group, research analysts predict that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.3758 dividend. This is a positive change from Vale’s previous semi-annual dividend of $0.30. The ex-dividend date was Monday, March 10th. This represents a dividend yield of 7.5%. Vale’s dividend payout ratio is 52.08%.

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.