Choreo LLC Buys New Holdings in Vale S.A. (NYSE:VALE)

Choreo LLC purchased a new position in Vale S.A. (NYSE:VALE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,754 shares of the basic materials company’s stock, valued at approximately $282,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Systematic Alpha Investments LLC bought a new stake in shares of Vale during the third quarter worth about $31,000. Whittier Trust Co. raised its stake in shares of Vale by 423.1% in the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,578 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Vale in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new position in shares of Vale during the fourth quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC grew its holdings in Vale by 2,502.8% during the fourth quarter. Sound Income Strategies LLC now owns 2,837 shares of the basic materials company’s stock worth $45,000 after buying an additional 2,728 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Stock Performance

NYSE:VALE opened at $12.61 on Friday. Vale S.A. has a 1 year low of $11.52 and a 1 year high of $16.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79. The business has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $13.72. The company has a market capitalization of $56.53 billion, a P/E ratio of 6.97, a P/E/G ratio of 5.26 and a beta of 0.97.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). The firm had revenue of $13.05 billion during the quarter, compared to the consensus estimate of $12.95 billion. Vale had a net margin of 18.72% and a return on equity of 19.59%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, analysts expect that Vale S.A. will post 2.23 earnings per share for the current year.

Vale Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were paid 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 payout ratio is currently 65.19%.

Analysts Set New Price Targets

VALE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of Vale in a report on Monday, February 12th. Bank of America reiterated 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. JPMorgan Chase & Co. cut their target price on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, StockNews.com began coverage on Vale in a research report on Saturday, March 30th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.67.

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.