BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 20,400 Shares of Vale S.A. $VALE

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its stake in Vale S.A. (NYSE:VALE) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 474,424 shares of the basic materials company’s stock after selling 20,400 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Vale were worth $4,824,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GQG Partners LLC bought a new stake in Vale in the 1st quarter valued at about $371,778,000. Price T Rowe Associates Inc. MD increased its stake in shares of Vale by 20.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company’s stock worth $301,541,000 after purchasing an additional 5,775,590 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Vale by 49.3% in the fourth quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company’s stock valued at $161,773,000 after purchasing an additional 6,023,144 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Vale by 38.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,932,405 shares of the basic materials company’s stock valued at $159,005,000 after buying an additional 4,389,959 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Vale by 15.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,523,471 shares of the basic materials company’s stock valued at $115,004,000 after buying an additional 1,557,799 shares in the last quarter. 21.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VALE has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Vale from $12.75 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, July 2nd. Scotiabank decreased their price objective on Vale from $13.00 to $12.50 and set a “sector perform” rating on the stock in a research note on Tuesday, July 22nd. UBS Group reissued a “neutral” rating and set a $10.00 price objective (up previously from $9.00) on shares of Vale in a report on Monday, August 4th. CICC Research started coverage on Vale in a research note on Monday, May 12th. They issued an “outperform” rating and a $11.30 target price for the company. Finally, Wall Street Zen initiated coverage on Vale in a report on Wednesday, May 7th. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.84.

Vale Price Performance

NYSE:VALE opened at $9.81 on Tuesday. The firm has a market capitalization of $44.53 billion, a price-to-earnings ratio of 7.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22. The stock has a fifty day moving average of $9.81 and a 200 day moving average of $9.64. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.05.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%. The firm had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $9.54 billion. On average, research analysts expect that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th will be paid a $0.3417 dividend. This represents a yield of 740.0%. The ex-dividend date of this dividend is Wednesday, August 13th. Vale’s payout ratio is currently 58.54%.

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.