Vale S.A. (VALE) To Go Ex-Dividend on November 22nd

Vale S.A. (NYSE:VALE) declared a — dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Friday, November 24th will be paid a dividend of 0.1541 per share by the basic materials company on Friday, December 8th. This represents a dividend yield of 8.6%. The ex-dividend date is Wednesday, November 22nd.

Vale has a payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Vale to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 25.3%.

Vale Stock Down 0.4 %

Shares of VALE stock opened at $15.14 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.70 and a debt-to-equity ratio of 0.39. Vale has a twelve month low of $12.22 and a twelve month high of $19.31. The stock has a 50 day moving average of $13.66 and a 200 day moving average of $13.66. The stock has a market cap of $67.87 billion, a P/E ratio of 7.24 and a beta of 0.90.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. Vale had a net margin of 22.84% and a return on equity of 23.82%. The firm had revenue of $10.62 billion during the quarter, compared to analyst estimates of $10.52 billion. During the same period in the previous year, the firm earned $0.98 EPS. As a group, sell-side analysts expect that Vale will post 2.12 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VALE shares. Jefferies Financial Group increased their target price on shares of Vale from $16.00 to $18.00 in a research note on Friday, July 28th. StockNews.com upgraded Vale from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Royal Bank of Canada boosted their price objective on Vale from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. UBS Group upgraded Vale from a “sell” rating to a “neutral” rating in a research report on Thursday, October 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Vale from a “buy” rating to a “hold” rating and dropped their price target for the company from $18.00 to $17.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Vale presently has an average rating of “Moderate Buy” and an average price target of $16.72.

Institutional Investors Weigh In On Vale

A number of large investors have recently modified their holdings of VALE. BlackRock Inc. increased its holdings in shares of Vale by 18.7% during the 1st quarter. BlackRock Inc. now owns 72,165,728 shares of the basic materials company’s stock worth $1,138,775,000 after buying an additional 11,393,498 shares during the last quarter. Bank of America Corp DE raised its stake in Vale by 57.8% during the 1st quarter. Bank of America Corp DE now owns 22,763,893 shares of the basic materials company’s stock worth $359,214,000 after acquiring an additional 8,334,786 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Vale by 52.3% in the second quarter. Lazard Asset Management LLC now owns 13,783,862 shares of the basic materials company’s stock valued at $184,978,000 after buying an additional 4,733,169 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Vale in the fourth quarter valued at about $28,812,000. Finally, Millennium Management LLC raised its stake in Vale by 808.0% during the 4th quarter. Millennium Management LLC now owns 1,553,951 shares of the basic materials company’s stock valued at $26,371,000 after acquiring an additional 1,382,808 shares during the last quarter. Hedge funds and other institutional investors own 16.90% of the company’s stock.

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.