Carrhae Capital LLP Cuts Stock Position in Vale S.A. (NYSE:VALE)

Carrhae Capital LLP trimmed its stake in shares of Vale S.A. (NYSE:VALE) by 20.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,749,987 shares of the basic materials company’s stock after selling 460,917 shares during the period. Vale accounts for 2.3% of Carrhae Capital LLP’s holdings, making the stock its 19th biggest position. Carrhae Capital LLP’s holdings in Vale were worth $20,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. SPX Gestao de Recursos Ltda boosted its stake in Vale by 60.6% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after purchasing an additional 8,288,112 shares during the last quarter. Marshall Wace LLP grew its stake in Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after acquiring an additional 5,707,969 shares in the last quarter. Norden Group LLC raised its holdings in Vale by 3,952.2% in the 1st quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock valued at $40,758,000 after acquiring an additional 3,261,060 shares during the last quarter. Van ECK Associates Corp lifted its stake in Vale by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock worth $60,983,000 after purchasing an additional 2,871,094 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Vale by 27.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock worth $132,408,000 after purchasing an additional 2,578,900 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com started coverage on Vale in a report on Friday. They issued a “buy” rating for the company. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Scotiabank dropped their price objective on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley reduced their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Finally, UBS Group dropped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.15.

Vale Stock Performance

Shares of VALE stock opened at $10.63 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $47.66 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.30 and a beta of 0.93. The firm’s 50 day moving average price is $10.72 and its 200-day moving average price is $11.33. Vale S.A. has a one year low of $9.66 and a one year high of $16.08.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Vale had a return on equity of 22.23% and a net margin of 23.07%. The company had revenue of $9.92 billion for the quarter, compared to analysts’ expectations of $9.97 billion. As a group, equities research analysts predict that Vale S.A. will post 2.06 EPS for the current year.

Vale Increases Dividend

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

Vale Company 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.