UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 94,466 Shares of Vale S.A. $VALE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Vale S.A. (NYSE:VALE) by 445.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 115,656 shares of the basic materials company’s stock after buying an additional 94,466 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Vale were worth $1,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in Vale by 8.5% in the 2nd quarter. Van ECK Associates Corp now owns 4,565,904 shares of the basic materials company’s stock valued at $68,671,000 after acquiring an additional 358,581 shares during the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Vale by 1.9% during the 2nd quarter. Navellier & Associates Inc. now owns 161,618 shares of the basic materials company’s stock valued at $2,431,000 after purchasing an additional 2,971 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Vale by 8.7% during the 2nd quarter. Wellington Management Group LLP now owns 734,789 shares of the basic materials company’s stock valued at $11,051,000 after purchasing an additional 59,096 shares during the last quarter. Corient Private Wealth LP purchased a new position in shares of Vale during the second quarter valued at about $1,138,000. Finally, Jupiter Topco LLC purchased a new position in shares of Vale during the second quarter valued at about $25,862,000. Institutional investors own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America reiterated a “neutral” rating and issued a $16.00 target price (down from $18.00) on shares of Vale in a research report on Wednesday, August 5th. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Sanford C. Bernstein lifted their price objective on Vale from $12.00 to $12.50 and gave the stock a “market perform” rating in a research note on Wednesday. Scotiabank reduced their price objective on Vale from $19.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. upped their price objective on Vale from $19.50 to $21.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, Vale has an average rating of “Hold” and a consensus price target of $16.04.

Vale Stock Performance

Shares of NYSE:VALE opened at $15.21 on Friday. The firm has a fifty day simple moving average of $14.71 and a two-hundred day simple moving average of $15.58. Vale S.A. has a 52 week low of $10.58 and a 52 week high of $17.94. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $69.02 billion, a P/E ratio of 31.03 and a beta of 0.49.

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

Vale Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th were given a dividend of $0.3088 per share. The ex-dividend date was Thursday, August 13th. Vale’s dividend payout ratio is 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.