Cary Street Partners Financial LLC Invests $101,000 in Vale S.A. (NYSE:VALE)

Cary Street Partners Financial LLC acquired a new stake in shares of Vale S.A. (NYSE:VALE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,370 shares of the basic materials company’s stock, valued at approximately $101,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VALE. FMR LLC raised its holdings in Vale by 28.8% during the fourth quarter. FMR LLC now owns 47,163,226 shares of the basic materials company’s stock valued at $418,338,000 after acquiring an additional 10,557,888 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Vale by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company’s stock worth $301,541,000 after purchasing an additional 5,775,590 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Vale by 328.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company’s stock valued at $153,891,000 after purchasing an additional 13,298,912 shares during the period. Mondrian Investment Partners LTD lifted its holdings in Vale by 13.3% in the 4th quarter. Mondrian Investment Partners LTD now owns 11,754,809 shares of the basic materials company’s stock worth $109,202,000 after purchasing an additional 1,381,475 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Vale by 25.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,965,672 shares of the basic materials company’s stock worth $88,396,000 after purchasing an additional 2,014,652 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group reduced their price objective on shares of Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $11.00 price target (down from $12.00) on shares of Vale in a report on Thursday, April 17th. StockNews.com assumed coverage on shares of Vale in a research note on Wednesday, May 7th. They issued a “hold” rating on the stock. Finally, Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $11.50 in a report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.13.

Vale Stock Performance

Shares of NYSE:VALE opened at $9.37 on Monday. The firm has a fifty day simple moving average of $9.49 and a two-hundred day simple moving average of $9.52. Vale S.A. has a 52 week low of $8.06 and a 52 week high of $13.14. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $42.53 billion, a P/E ratio of 6.51, a PEG ratio of 0.31 and a beta of 0.83.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Vale had a net margin of 16.15% and a return on equity of 17.38%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.39 billion. On average, analysts expect that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Increases Dividend

The business 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 represents a dividend yield of 7.5%. This is a positive change from Vale’s previous semi-annual dividend of $0.30. The ex-dividend date was Monday, March 10th. Vale’s dividend payout ratio (DPR) is presently 54.35%.

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.