Ninety One North America Inc. Purchases 886,214 Shares of Vale S.A. $VALE

Ninety One North America Inc. lifted its position in shares of Vale S.A. (NYSE:VALE) by 35.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,377,582 shares of the basic materials company’s stock after buying an additional 886,214 shares during the quarter. Vale comprises approximately 1.7% of Ninety One North America Inc.’s investment portfolio, making the stock its 22nd largest position. Ninety One North America Inc.’s holdings in Vale were worth $36,681,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its stake in Vale by 59.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 97,506 shares of the basic materials company’s stock valued at $947,000 after purchasing an additional 36,372 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Vale by 11.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 529,967 shares of the basic materials company’s stock valued at $5,019,000 after purchasing an additional 55,543 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Vale by 37.8% during the first quarter. Royal Bank of Canada now owns 1,463,665 shares of the basic materials company’s stock valued at $14,608,000 after purchasing an additional 401,614 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Vale in the 3rd quarter worth about $20,754,000. Finally, Ascent Group LLC increased its holdings in Vale by 197.2% in the 1st quarter. Ascent Group LLC now owns 59,968 shares of the basic materials company’s stock worth $598,000 after buying an additional 39,791 shares in the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Price Performance

Shares of NYSE:VALE opened at $13.04 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.24 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $59.19 billion, a PE ratio of 10.03 and a beta of 0.57. The firm’s 50 day moving average price is $12.51 and its 200-day moving average price is $11.05. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $13.62.

Vale (NYSE:VALE) last announced its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Vale had a net margin of 14.69% and a return on equity of 18.60%. The company had revenue of $10.42 billion during the quarter, compared to analyst estimates of $10.39 billion. Equities research analysts expect that Vale S.A. will post 1.85 EPS for the current year.

Vale Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 12th will be paid a $0.2331 dividend. The ex-dividend date is Friday, December 12th. Vale’s dividend payout ratio is 69.23%.

Analyst Ratings Changes

VALE has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on shares of Vale from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Vale in a report on Monday. Hsbc Global Res upgraded shares of Vale to a “strong-buy” rating in a report on Friday, October 17th. Scotiabank raised shares of Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price for the company in a research report on Thursday, September 18th. Finally, Morgan Stanley set a $11.50 target price on shares of Vale in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.04.

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.