Vale S.A. $VALE Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Vale S.A. (NYSE:VALE) by 85.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 66,831 shares of the basic materials company’s stock after selling 400,878 shares during the period. The Manufacturers Life Insurance Company’s holdings in Vale were worth $1,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC raised its position in shares of Vale by 4.9% in the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock worth $792,000 after acquiring an additional 3,704 shares during the period. Jones Financial Companies Lllp raised its holdings in Vale by 46.6% in the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 11,964 shares during the period. Empowered Funds LLC purchased a new position in Vale during the first quarter worth approximately $171,000. Strs Ohio purchased a new position in Vale during the first quarter worth approximately $117,000. Finally, Sivia Capital Partners LLC acquired a new stake in Vale in the second quarter valued at approximately $123,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of NYSE:VALE opened at $15.28 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.77. The business’s 50 day moving average price is $14.67 and its 200-day moving average price is $15.61. The firm has a market capitalization of $69.36 billion, a PE ratio of 31.18 and a beta of 0.49. Vale S.A. has a 1 year low of $10.33 and a 1 year high of $17.94.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.10). The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.47 billion. Vale had a net margin of 5.11% and a return on equity of 19.87%. As a group, equities research analysts expect that Vale S.A. will post 1.9 earnings per share for the current fiscal year.

Vale Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.3088 per share. The ex-dividend date of this dividend is Thursday, August 13th. Vale’s dividend payout ratio is presently 89.80%.

Analyst Ratings Changes

VALE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 price objective on shares of Vale in a research report on Friday, May 15th. UBS Group reissued a “neutral” rating and issued a $16.50 price target on shares of Vale in a research note on Tuesday, August 11th. Morgan Stanley reissued an “equal weight” rating and issued a $16.50 price target (down from $19.50) on shares of Vale in a report on Wednesday, July 8th. The Goldman Sachs Group cut shares of Vale from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $16.00 in a research report on Monday, July 27th. Finally, Scotiabank decreased their price objective on shares of Vale from $19.00 to $16.00 and set a “sector perform” rating on the stock in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Vale currently has an average rating of “Hold” and an average price target of $16.33.

Vale Profile

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.