Stock Yards Bank & Trust Co. Increases Stock Position in Vale S.A. $VALE

Stock Yards Bank & Trust Co. raised its stake in Vale S.A. (NYSE:VALE) by 60.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,000 shares of the basic materials company’s stock after acquiring an additional 6,000 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Vale were worth $155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in VALE. Ascent Group LLC boosted its position in shares of Vale by 2.3% in the 2nd quarter. Ascent Group LLC now owns 61,364 shares of the basic materials company’s stock valued at $596,000 after purchasing an additional 1,396 shares during the period. Ping Capital Management Inc. lifted its stake in Vale by 76.2% in the second quarter. Ping Capital Management Inc. now owns 119,800 shares of the basic materials company’s stock valued at $1,163,000 after buying an additional 51,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Vale by 3.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 188,607 shares of the basic materials company’s stock valued at $1,831,000 after acquiring an additional 6,900 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Vale by 24.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 12,050,646 shares of the basic materials company’s stock worth $117,012,000 after acquiring an additional 2,393,157 shares during the last quarter. Finally, Deltec Asset Management LLC acquired a new position in shares of Vale in the 2nd quarter valued at $160,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VALE. UBS Group reiterated a “neutral” rating and set a $10.00 price target (up previously from $9.00) on shares of Vale in a research note on Monday, August 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vale in a research note on Saturday, September 27th. Barclays boosted their price target on Vale from $13.50 to $13.70 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 price objective for the company in a research report on Thursday, September 18th. Finally, Zacks Research lowered Vale from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 9th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.93.

Vale Price Performance

Shares of VALE opened at $11.00 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $10.33 and its two-hundred day moving average is $9.83. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $11.68. The firm has a market capitalization of $49.95 billion, a PE ratio of 8.95 and a beta of 0.80.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $9.54 billion. Research analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th were issued a $0.3417 dividend. This represents a dividend yield of 740.0%. The ex-dividend date was Wednesday, August 13th. Vale’s dividend payout ratio (DPR) is currently 59.35%.

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.