Oaktree Capital Management LP Reduces Stake in Vale S.A. (NYSE:VALE)

Oaktree Capital Management LP lessened its holdings in Vale S.A. (NYSE:VALE) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,192,005 shares of the basic materials company’s stock after selling 1,011,461 shares during the period. Vale accounts for approximately 1.2% of Oaktree Capital Management LP’s portfolio, making the stock its 20th largest holding. Oaktree Capital Management LP owned approximately 0.16% of Vale worth $63,793,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group lifted its stake in Vale by 215.9% in the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company’s stock valued at $25,000 after buying an additional 1,900 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Vale by 206.4% in the fourth quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 1,938 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vale in the third quarter valued at $28,000. Cornerstone Planning Group LLC boosted its stake in shares of Vale by 3,092.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,192 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 3,092 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in Vale during the 4th quarter worth about $30,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VALE shares. StockNews.com assumed coverage on shares of Vale in a report on Tuesday, March 25th. They issued a “hold” rating on the stock. Barclays decreased their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Scotiabank dropped their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a research note on Monday, January 6th. Finally, Jefferies Financial Group lowered their price target on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.26.

Vale Price Performance

Vale stock opened at $10.06 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $45.64 billion, a P/E ratio of 6.98, a PEG ratio of 0.31 and a beta of 0.85. The firm has a fifty day moving average of $9.61 and a 200-day moving average of $9.90. Vale S.A. has a 52-week low of $8.38 and a 52-week high of $13.14.

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

Vale Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.3758 dividend. This represents a yield of 7.5%. The ex-dividend date was Monday, March 10th. This is a boost from Vale’s previous semi-annual dividend of $0.30. Vale’s dividend payout ratio is currently 52.08%.

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.