Mirae Asset Global Investments Co. Ltd. Has $3.87 Million Stake in Vale S.A. (NYSE:VALE)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Vale S.A. (NYSE:VALE) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 243,695 shares of the basic materials company’s stock after selling 34,551 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vale were worth $3,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Vale in the 1st quarter valued at about $28,000. Systematic Alpha Investments LLC acquired a new position in Vale during the third quarter valued at approximately $31,000. Whittier Trust Co. grew its stake in Vale by 423.1% in the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 1,578 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Vale by 44.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 835 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Vale by 2,502.8% during the 4th quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 2,728 shares in the last quarter. 21.85% of the stock is owned by institutional investors.

Vale Trading Down 2.8 %

Shares of VALE stock opened at $11.67 on Wednesday. Vale S.A. has a 12-month low of $11.52 and a 12-month high of $16.24. The company has a market capitalization of $52.30 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 3.39 and a beta of 0.97. The firm has a 50 day moving average price of $12.73 and a two-hundred day moving average price of $13.80. The company has a quick ratio of 0.96, a current ratio of 1.28 and a debt-to-equity ratio of 0.38.

Vale (NYSE:VALE) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). The firm had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same quarter last year, the business posted $0.82 EPS. As a group, analysts predict that Vale S.A. will post 2.31 earnings per share for the current year.

Vale Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.3182 per share. This represents a dividend yield of 9.7%. The ex-dividend date of this dividend was Tuesday, March 12th. Vale’s dividend payout ratio is currently 64.48%.

Wall Street Analysts Forecast Growth

VALE has been the subject of several analyst reports. Barclays raised their target price on shares of Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price objective on shares of Vale in a research report on Monday, February 12th. JPMorgan Chase & Co. dropped their target price on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft reduced their price target on Vale from $18.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, April 4th. Finally, Bank of America restated a “neutral” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Vale in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

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.