The Manufacturers Life Insurance Company Has $1 Million Stock Position in Vale S.A. $VALE

The Manufacturers Life Insurance Company reduced its position in shares of Vale S.A. (NYSE:VALE) by 85.7% during the second quarter, Holdings Channel 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 SEC filing.

Several other institutional investors have also recently bought and sold shares of VALE. PNC Financial Services Group Inc. lifted its position in Vale by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 28,913 shares of the basic materials company’s stock valued at $377,000 after acquiring an additional 632 shares in the last quarter. NewEdge Wealth LLC grew its position in Vale by 2.8% in the 1st quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 708 shares in the last quarter. Intergy Private Wealth LLC increased its position in shares of Vale by 6.6% during the first quarter. Intergy Private Wealth LLC now owns 14,759 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 908 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Vale by 4.7% during the 1st quarter. AdvisorNet Financial Inc now owns 20,552 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 920 shares during the period. Finally, Diversified Trust Co raised its position in Vale by 2.6% in the first quarter. Diversified Trust Co now owns 37,093 shares of the basic materials company’s stock worth $590,000 after acquiring an additional 941 shares during the period. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen lowered Vale from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. UBS Group reissued a “neutral” rating and issued a $16.50 price target on shares of Vale in a report on Tuesday, August 11th. Wells Fargo & Company cut their price objective on Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, July 9th. Freedom Broker lowered shares of Vale from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Finally, Zacks Research upgraded shares of Vale from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.04.

Vale Price Performance

Shares of NYSE VALE opened at $14.62 on Tuesday. Vale S.A. has a 1 year low of $10.58 and a 1 year high of $17.94. The stock has a market capitalization of $66.35 billion, a P/E ratio of 29.83 and a beta of 0.49. The company’s 50-day moving average is $14.70 and its 200 day moving average is $15.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.77.

Vale (NYSE:VALE) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.47 billion. Vale had a net margin of 5.11% and a return on equity of 19.87%. On average, sell-side analysts expect that Vale S.A. will post 1.9 earnings per share for the current year.

Vale Dividend Announcement

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

About Vale

Vale SA is a Brazilian mining and logistics company headquartered in Rio de Janeiro. Its principal business is the production of iron ore and iron ore pellets, which are supplied to steelmakers around the world. The company also produces nickel, copper, manganese, coal and other mineral products.

Vale operates mining, processing, transportation and logistics infrastructure, including railways, ports and maritime terminals. Its operations and projects span Brazil and other jurisdictions, including Canada and Indonesia, enabling the company to serve customers in international markets.

The company was established in 1942 as Companhia Vale do Rio Doce and was privatized in 1997.