Essex LLC Sells 23,636 Shares of Vale S.A. (NYSE:VALE)

Essex LLC trimmed its holdings in shares of Vale S.A. (NYSE:VALEFree Report) by 39.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,668 shares of the basic materials company’s stock after selling 23,636 shares during the period. Essex LLC’s holdings in Vale were worth $582,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in Vale in the 1st quarter valued at $28,000. Systematic Alpha Investments LLC purchased a new stake in Vale in the 3rd quarter valued at $31,000. Whittier Trust Co. raised its position in Vale by 423.1% in the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after buying an additional 1,578 shares during the last quarter. AdvisorNet Financial Inc raised its position in Vale by 44.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock valued at $36,000 after buying an additional 835 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in Vale by 2,502.8% in the 4th quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock valued at $45,000 after buying an additional 2,728 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.

Vale Stock Down 1.2 %

VALE stock opened at $12.03 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.96 and a current ratio of 1.28. The company has a market capitalization of $53.91 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 3.40 and a beta of 0.97. Vale S.A. has a fifty-two week low of $11.73 and a fifty-two week high of $16.40. The stock has a fifty day moving average of $12.79 and a 200-day moving average of $13.81.

Vale (NYSE:VALEGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.48). The firm had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, equities research analysts predict that Vale S.A. will post 2.33 earnings per share for the current year.

Vale Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were paid a $0.3182 dividend. The ex-dividend date was Tuesday, March 12th. This represents a yield of 9.7%. Vale’s dividend payout ratio is currently 64.48%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VALE. Deutsche Bank Aktiengesellschaft lowered their price target on Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. Bank of America reissued a “neutral” rating and issued a $13.00 price target (down from $20.00) on shares of Vale in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of Vale in a research report on Monday, February 12th. StockNews.com assumed coverage on Vale in a research report on Saturday, March 30th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Vale presently has a consensus rating of “Moderate Buy” and an average price target of $16.52.

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Vale Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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