State of New Jersey Common Pension Fund D Sells 349,407 Shares of Vale S.A. $VALE

State of New Jersey Common Pension Fund D cut its position in Vale S.A. (NYSE:VALE) by 42.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 478,398 shares of the basic materials company’s stock after selling 349,407 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Vale were worth $4,645,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in Vale in the 1st quarter valued at approximately $30,000. GAMMA Investing LLC raised its holdings in Vale by 98.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after buying an additional 2,021 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Vale in the 1st quarter valued at approximately $41,000. Golden State Wealth Management LLC raised its holdings in Vale by 193.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock valued at $41,000 after buying an additional 2,713 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in Vale during the 2nd quarter worth about $46,000. Institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of Vale stock opened at $11.47 on Tuesday. Vale S.A. has a one year low of $8.06 and a one year high of $11.66. The firm has a market capitalization of $52.04 billion, a price-to-earnings ratio of 9.32 and a beta of 0.80. The business has a 50-day simple moving average of $10.73 and a 200 day simple moving average of $10.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85.

Vale (NYSE:VALE) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.54 billion. On average, research analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th were given a $0.3417 dividend. This represents a yield of 740.0%. The ex-dividend date of this dividend was Wednesday, August 13th. Vale’s payout ratio is presently 59.35%.

Wall Street Analysts Forecast Growth

VALE has been the topic of several recent research reports. Morgan Stanley set a $11.50 target price on Vale in a report on Wednesday, October 8th. Zacks Research raised Vale from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 8th. Wells Fargo & Company raised Vale to a “hold” rating in a report on Wednesday, October 8th. Barclays lifted their target price on Vale from $13.70 to $13.80 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, HSBC lifted their target price on Vale from $12.25 to $13.50 and gave the stock a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Vale currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

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.