Connor Clark & Lunn Investment Management Ltd. Sells 5,394,713 Shares of Vale S.A. $VALE

Connor Clark & Lunn Investment Management Ltd. cut its stake in Vale S.A. (NYSE:VALE) by 57.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,051,623 shares of the basic materials company’s stock after selling 5,394,713 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vale were worth $60,936,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its stake in Vale by 2,239.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company’s stock worth $541,996,000 after purchasing an additional 39,818,066 shares during the period. Capital World Investors grew its holdings in Vale by 58.2% during the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock valued at $1,163,896,000 after buying an additional 32,864,929 shares in the last quarter. GQG Partners LLC increased its position in shares of Vale by 42.4% during the fourth quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock valued at $848,677,000 after buying an additional 19,397,396 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Vale by 15,202.2% during the first quarter. Assenagon Asset Management S.A. now owns 15,663,641 shares of the basic materials company’s stock valued at $249,209,000 after buying an additional 15,561,279 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Vale by 119.9% in the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock worth $347,433,000 after buying an additional 11,905,247 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analyst Ratings Changes

VALE has been the subject of a number of analyst reports. Zacks Research lowered shares of Vale from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. The Goldman Sachs Group cut shares of Vale from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $16.00 in a research note on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Vale in a report on Wednesday, July 8th. Barclays boosted their price target on shares of Vale from $16.75 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Vale from $19.50 to $21.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Vale currently has an average rating of “Hold” and an average target price of $16.00.

Vale Stock Down 0.1%

Shares of NYSE:VALE opened at $14.58 on Monday. Vale S.A. has a 52-week low of $9.80 and a 52-week high of $17.94. The firm has a fifty day moving average of $14.71 and a 200 day moving average of $15.71. The firm has a market capitalization of $66.18 billion, a PE ratio of 29.76 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.19.

Vale (NYSE:VALE) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.87%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. As a group, research analysts anticipate that Vale S.A. will post 1.9 EPS for the current fiscal year.

Vale Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.3088 per share. The ex-dividend date is Thursday, August 13th. Vale’s dividend payout ratio is 89.80%.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.