Vale (NYSE:VALE) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Vale (NYSE:VALE) from a buy rating to a hold rating in a research report released on Friday morning.

Several other analysts have also issued reports on VALE. Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $14.50 to $11.30 in a report on Thursday, December 12th. Scotiabank reduced their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. Barclays reduced their target price on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $11.50 in a report on Monday, November 11th. Finally, Jefferies Financial Group dropped their price objective on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.26.

Vale Stock Performance

Shares of NYSE VALE opened at $9.43 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The stock’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $9.97. Vale has a one year low of $8.38 and a one year high of $13.68. The firm has a market cap of $42.78 billion, a price-to-earnings ratio of 6.55, a P/E/G ratio of 0.31 and a beta of 0.91.

Vale (NYSE:VALE) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.36). Vale had a net margin of 16.15% and a return on equity of 17.38%. The firm had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.03 billion. On average, equities analysts forecast that Vale will post 1.85 EPS for the current year.

Vale Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $0.3758 per share. This represents a dividend yield of 7.5%. This is an increase from Vale’s previous semi-annual dividend of $0.30. The ex-dividend date is Monday, March 10th. Vale’s dividend payout ratio (DPR) is 88.89%.

Institutional Investors Weigh In On Vale

Several large investors have recently added to or reduced their stakes in VALE. Ascent Group LLC boosted its position in shares of Vale by 32.8% during the fourth quarter. Ascent Group LLC now owns 20,177 shares of the basic materials company’s stock valued at $179,000 after buying an additional 4,987 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Vale by 6.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 927,304 shares of the basic materials company’s stock worth $8,225,000 after buying an additional 58,464 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Vale in the 4th quarter worth about $104,000. MidWestOne Financial Group Inc. purchased a new position in shares of Vale in the 4th quarter worth about $726,000. Finally, White Knight Strategic Wealth Advisors LLC lifted its stake in shares of Vale by 124.6% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 106,020 shares of the basic materials company’s stock valued at $940,000 after acquiring an additional 58,815 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

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.