Vale S.A. (NYSE:VALE) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP trimmed its holdings in shares of Vale S.A. (NYSE:VALE – Get Rating) by 96.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,091 shares of the basic materials company’s stock after selling 350,140 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Vale were worth $161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VALE. Bank of New Hampshire lifted its position in Vale by 74.1% during the third quarter. Bank of New Hampshire now owns 2,525 shares of the basic materials company’s stock valued at $34,000 after buying an additional 1,075 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new position in shares of Vale during the third quarter worth $40,000. Exchange Traded Concepts LLC lifted its position in shares of Vale by 17.7% during the third quarter. Exchange Traded Concepts LLC now owns 4,930 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 743 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Vale during the third quarter worth $78,000. Finally, Huntington National Bank lifted its position in shares of Vale by 193.0% during the third quarter. Huntington National Bank now owns 6,923 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 4,560 shares in the last quarter. 20.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on VALE. JPMorgan Chase & Co. cut shares of Vale from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $17.50 in a research report on Thursday, February 9th. StockNews.com raised shares of Vale from a “hold” rating to a “buy” rating in a research report on Monday, February 20th. Royal Bank of Canada downgraded Vale from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $16.00 to $15.00 in a research note on Monday, February 6th. BMO Capital Markets lifted their price target on Vale from $16.00 to $20.00 in a research note on Thursday, December 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Vale from a “hold” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $20.00 in a research note on Wednesday, November 23rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.85.

Vale Stock Performance

Shares of NYSE VALE opened at $17.11 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $17.42 and its two-hundred day moving average price is $15.34. Vale S.A. has a 52-week low of $11.72 and a 52-week high of $21.29. The stock has a market capitalization of $78.56 billion, a P/E ratio of 4.22 and a beta of 0.88.

Vale Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 15th will be issued a $0.3542 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a yield of 6.1%. This is a boost from Vale’s previous semi-annual dividend of $0.05. Vale’s dividend payout ratio (DPR) is currently 2.47%.

Vale Profile

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Vale SA engages in the production and exportation of iron ore, pellets, manganese, and iron alloys. It operates through the following segments: Ferrous Minerals, Base Metals, and Coal. The Ferrous Minerals segment includes the production and extraction of iron ore, iron ore pellets, manganese, other ferrous products, and logistic services.