Vale S.A. (NYSE:VALE) is SPX Gestao de Recursos Ltda’s Largest Position

SPX Gestao de Recursos Ltda increased its stake in shares of Vale S.A. (NYSE:VALE) by 60.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,969,937 shares of the basic materials company’s stock after acquiring an additional 8,288,112 shares during the quarter. Vale comprises approximately 36.6% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its largest holding. SPX Gestao de Recursos Ltda’s holdings in Vale were worth $245,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Capital Group California Inc. raised its position in Vale by 6.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after purchasing an additional 1,154 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Vale by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock worth $693,000 after buying an additional 1,187 shares during the last quarter. Inspire Advisors LLC increased its position in Vale by 6.8% in the 1st quarter. Inspire Advisors LLC now owns 19,277 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 1,226 shares during the period. IFG Advisory LLC raised its stake in Vale by 6.1% during the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after acquiring an additional 1,296 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in Vale by 3.0% during the 1st quarter. QRG Capital Management Inc. now owns 48,109 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 1,396 shares during the period. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Price Performance

VALE stock opened at $11.69 on Tuesday. The firm has a 50 day moving average of $10.53 and a 200-day moving average of $11.43. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 6.46, a PEG ratio of 3.52 and a beta of 0.93. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.43. Vale S.A. has a 12-month low of $9.66 and a 12-month high of $16.08.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. The firm had revenue of $9.92 billion during the quarter, compared to analysts’ expectations of $9.97 billion. Vale had a return on equity of 22.23% and a net margin of 23.07%. As a group, equities analysts expect that Vale S.A. will post 2.14 EPS for the current fiscal year.

Vale Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 5th were given a $0.3698 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Vale’s previous semi-annual dividend of $0.32. This represents a dividend yield of 12.1%. Vale’s payout ratio is currently 64.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VALE shares. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. Morgan Stanley cut their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research report on Thursday, September 19th. UBS Group reduced their target price on shares of Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research note on Friday, July 5th. Wolfe Research lowered shares of Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.17.

About Vale

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.