OVERSEA CHINESE BANKING Corp Ltd Purchases New Stake in Vale S.A. (NYSE:VALE)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Vale S.A. (NYSE:VALE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 23,464 shares of the basic materials company’s stock, valued at approximately $209,000.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Vale in the third quarter valued at about $28,000. Brooklyn Investment Group boosted its holdings in Vale by 215.9% in the fourth quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 1,900 shares during the last quarter. IFP Advisors Inc boosted its holdings in Vale by 206.4% in the fourth quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 1,938 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Vale in the third quarter valued at about $36,000. Finally, Cornerstone Planning Group LLC lifted its stake in Vale by 3,092.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 3,192 shares of the basic materials company’s stock valued at $29,000 after buying an additional 3,092 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Stock Down 0.4 %

Shares of Vale stock opened at $10.15 on Friday. The business’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $9.90. Vale S.A. has a 52-week low of $8.38 and a 52-week high of $13.14. The firm has a market cap of $46.05 billion, a PE ratio of 7.05, a P/E/G ratio of 0.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91.

Vale (NYSE:VALE) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.36). The company had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.03 billion. Vale had a net margin of 16.15% and a return on equity of 17.38%. On average, analysts predict that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $0.3758 dividend. This represents a yield of 7.5%. This is an increase from Vale’s previous semi-annual dividend of $0.30. The ex-dividend date of this dividend is Monday, March 10th. Vale’s dividend payout ratio (DPR) is currently 52.08%.

Analyst Upgrades and Downgrades

VALE has been the topic of several analyst reports. Barclays cut their target price on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Scotiabank cut their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Wolfe Research raised Vale from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Jefferies Financial Group cut their target price on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com lowered Vale from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.26.

Vale 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.