Oaktree Capital Management LP Sells 3,981,076 Shares of Vale S.A. $VALE

Oaktree Capital Management LP trimmed its stake in Vale S.A. (NYSE:VALE) by 66.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,033,706 shares of the basic materials company’s stock after selling 3,981,076 shares during the period. Oaktree Capital Management LP’s holdings in Vale were worth $19,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers bought a new position in shares of Vale in the first quarter worth about $2,242,000. LPL Financial LLC increased its holdings in Vale by 15.8% in the 1st quarter. LPL Financial LLC now owns 851,424 shares of the basic materials company’s stock worth $8,497,000 after acquiring an additional 115,979 shares in the last quarter. US Bancorp DE raised its stake in Vale by 36.8% during the 1st quarter. US Bancorp DE now owns 203,654 shares of the basic materials company’s stock worth $2,032,000 after acquiring an additional 54,797 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Vale by 25.2% in the first quarter. PNC Financial Services Group Inc. now owns 23,478 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 4,720 shares during the period. Finally, LaSalle St. Investment Advisors LLC increased its stake in shares of Vale by 20.6% in the first quarter. LaSalle St. Investment Advisors LLC now owns 54,923 shares of the basic materials company’s stock worth $548,000 after purchasing an additional 9,387 shares in the last quarter. Institutional investors own 21.85% of the company’s stock.

Vale Trading Up 2.0%

Shares of VALE stock opened at $13.56 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $61.55 billion, a price-to-earnings ratio of 10.43 and a beta of 0.57. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $13.62. The stock’s 50-day moving average price is $11.79 and its 200-day moving average price is $10.59.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14. Vale had a return on equity of 18.60% and a net margin of 14.69%.The business had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.39 billion. Equities research analysts predict that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 12th will be paid a dividend of $0.2331 per share. The ex-dividend date of this dividend is Friday, December 12th. Vale’s dividend payout ratio is presently 56.15%.

Analysts Set New Price Targets

VALE has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vale in a report on Tuesday, November 25th. Morgan Stanley set a $11.50 price objective on Vale in a research report on Wednesday, October 8th. Wells Fargo & Company increased their target price on Vale from $11.00 to $12.00 and gave the stock a “cautious” rating in a research report on Tuesday, November 4th. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price on the stock in a research note on Thursday, September 18th. Finally, Clarkson Capital began coverage on Vale in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.61.

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.