Manning & Napier Advisors LLC Has $3.58 Million Stock Position in Vale S.A. $VALE

Manning & Napier Advisors LLC lessened its holdings in Vale S.A. (NYSE:VALE) by 23.5% in the 2nd quarter, Holdings Channel reports. The firm owned 237,849 shares of the basic materials company’s stock after selling 72,927 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Vale were worth $3,577,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Vale by 58.2% during the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock worth $1,163,896,000 after acquiring an additional 32,864,929 shares in the last quarter. GQG Partners LLC boosted its position in Vale by 42.4% during the fourth quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock worth $848,677,000 after purchasing an additional 19,397,396 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Vale by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock valued at $762,848,000 after purchasing an additional 6,351,703 shares during the last quarter. Invesco Ltd. raised its position in shares of Vale by 16.7% in the third quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company’s stock valued at $314,526,000 after purchasing an additional 4,151,563 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Vale by 5.4% in the first quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company’s stock valued at $376,843,000 after purchasing an additional 1,205,280 shares during the period. 21.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on VALE shares. Zacks Research downgraded shares of Vale from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Wells Fargo & Company dropped their target price on shares of Vale from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Bank of America restated a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Vale in a report on Wednesday, August 5th. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $16.50 price objective (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Vale presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Vale Price Performance

NYSE:VALE opened at $15.04 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.77. The stock has a market cap of $68.29 billion, a P/E ratio of 30.70 and a beta of 0.47. The company has a fifty day moving average price of $14.70 and a 200 day moving average price of $15.70. Vale S.A. has a one year low of $10.08 and a one year high of $17.94.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.10). Vale had a return on equity of 19.87% and a net margin of 5.11%.The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.47 billion. Analysts anticipate that Vale S.A. will post 1.9 earnings per share for the current year.

Vale Dividend Announcement

The company also recently declared a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be issued a $0.3088 dividend. The ex-dividend date of this dividend is Thursday, August 13th. Vale’s dividend payout ratio is 89.80%.

Vale Company Profile

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.