Bank of America Corp DE Has $409.99 Million Stake in Vale S.A. (NYSE:VALE)

Bank of America Corp DE raised its stake in Vale S.A. (NYSE:VALEGet Rating) by 112.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,509,483 shares of the basic materials company’s stock after buying an additional 10,873,651 shares during the period. Bank of America Corp DE’s holdings in Vale were worth $409,985,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Vale by 51.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,667,483 shares of the basic materials company’s stock worth $23,382,000 after purchasing an additional 564,297 shares during the period. Principal Financial Group Inc. raised its position in shares of Vale by 19.3% during the fourth quarter. Principal Financial Group Inc. now owns 407,974 shares of the basic materials company’s stock worth $5,720,000 after purchasing an additional 66,111 shares during the period. TD Asset Management Inc. raised its position in shares of Vale by 1.6% during the fourth quarter. TD Asset Management Inc. now owns 46,116 shares of the basic materials company’s stock worth $647,000 after purchasing an additional 704 shares during the period. Pictet Asset Management SA raised its position in Vale by 8.1% in the 4th quarter. Pictet Asset Management SA now owns 232,906 shares of the basic materials company’s stock valued at $3,265,000 after buying an additional 17,501 shares during the last quarter. Finally, Invesco Ltd. raised its position in Vale by 0.3% in the 4th quarter. Invesco Ltd. now owns 79,731,354 shares of the basic materials company’s stock valued at $1,117,833,000 after buying an additional 216,573 shares during the last quarter. Institutional investors and hedge funds own 19.78% of the company’s stock.

Analysts Set New Price Targets

VALE has been the topic of a number of recent research reports. Royal Bank of Canada raised Vale from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $15.00 to $16.00 in a research report on Monday, September 12th. BNP Paribas lowered Vale from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Wednesday, July 13th. Itaú Unibanco lowered Vale to a “market perform” rating and set a $15.00 target price on the stock. in a research report on Wednesday, August 17th. Deutsche Bank Aktiengesellschaft dropped their target price on Vale from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, June 29th. Finally, Clarkson Capital reissued a “buy” rating on shares of Vale in a research report on Tuesday, June 14th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.23.

Vale Stock Performance

Shares of NYSE VALE opened at $12.98 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. Vale S.A. has a 12 month low of $11.16 and a 12 month high of $21.29. The stock has a 50 day moving average of $13.06 and a 200-day moving average of $15.91. The company has a market capitalization of $59.59 billion, a P/E ratio of 3.18, a P/E/G ratio of 1.09 and a beta of 0.94.

Vale (NYSE:VALEGet Rating) last issued its earnings results on Thursday, July 28th. The basic materials company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. Vale had a return on equity of 57.75% and a net margin of 41.72%. The company had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $11.67 billion. As a group, equities research analysts predict that Vale S.A. will post 3.21 EPS for the current year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were paid a $0.3907 dividend. The ex-dividend date was Friday, August 12th. This represents a yield of 21.9%. Vale’s dividend payout ratio (DPR) is presently 19.12%.

About Vale

(Get Rating)

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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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