Vale S.A. (NYSE:VALE) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Vale S.A. (NYSE:VALE) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,252 shares of the basic materials company’s stock after selling 2,024 shares during the quarter. Truist Financial Corp’s holdings in Vale were worth $360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its stake in Vale by 4.1% in the first quarter. Lazard Asset Management LLC now owns 12,269,261 shares of the basic materials company’s stock valued at $149,561,000 after buying an additional 485,702 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Vale by 27.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock worth $132,408,000 after acquiring an additional 2,578,900 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Vale by 20.4% during the 2nd quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company’s stock worth $118,815,000 after acquiring an additional 1,854,940 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after acquiring an additional 5,707,969 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Vale by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 7,127,552 shares of the basic materials company’s stock valued at $86,885,000 after buying an additional 456,774 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VALE. Morgan Stanley cut their price target on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. reduced their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Scotiabank lowered their price target on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.15.

Vale Stock Down 2.3 %

Vale stock opened at $10.73 on Friday. The firm has a market cap of $48.10 billion, a price-to-earnings ratio of 5.93, a P/E/G ratio of 0.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. Vale S.A. has a fifty-two week low of $9.66 and a fifty-two week high of $16.08. The firm has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $11.36.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. The business had revenue of $9.92 billion during the quarter, compared to analyst estimates of $9.97 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. As a group, analysts forecast that Vale S.A. will post 2.06 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. 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 of this dividend was Monday, August 5th. Vale’s dividend payout ratio is presently 64.09%.

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.