EverSource Wealth Advisors LLC Cuts Stock Position in Vale S.A. (NYSE:VALE)

EverSource Wealth Advisors LLC lessened its stake in Vale S.A. (NYSE:VALE) by 15.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,908 shares of the basic materials company’s stock after selling 1,084 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Vale were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VALE. SPX Gestao de Recursos Ltda boosted its stake in Vale by 1,422.7% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock worth $136,175,000 after purchasing an additional 8,022,188 shares during 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. Allspring Global Investments Holdings LLC lifted its stake in Vale by 49,161.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,440,413 shares of the basic materials company’s stock worth $38,705,000 after purchasing an additional 2,435,459 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Vale by 22.0% in the fourth quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock valued at $195,319,000 after purchasing an additional 2,224,756 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings in shares of Vale by 36.0% in the fourth quarter. Ninety One UK Ltd now owns 8,396,322 shares of the basic materials company’s stock valued at $133,166,000 after purchasing an additional 2,220,317 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BNP Paribas upgraded shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Morgan Stanley reduced their price target on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, June 21st. UBS Group lowered their price objective on Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. JPMorgan Chase & Co. decreased their price target on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Bank of America reissued a “neutral” rating and set a $13.00 price objective (down from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.72.

Vale Stock Up 1.7 %

Shares of Vale stock traded up $0.17 during trading hours on Tuesday, reaching $10.12. 23,854,104 shares of the company were exchanged, compared to its average volume of 26,175,855. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08. The stock’s fifty day moving average is $11.25 and its 200 day moving average is $12.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.08. The firm has a market cap of $45.37 billion, a PE ratio of 5.52, a PEG ratio of 3.57 and a beta of 0.96.

Vale Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 5th will be issued a $0.3698 dividend. This represents a yield of 12.1%. The ex-dividend date of this dividend is Monday, August 5th. This is a positive change from Vale’s previous semi-annual dividend of $0.32. Vale’s dividend payout ratio is 65.19%.

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.