Naviter Wealth LLC Purchases 3,604 Shares of Vale S.A. (NYSE:VALE)

Naviter Wealth LLC boosted its position in Vale S.A. (NYSE:VALE) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 98,416 shares of the basic materials company’s stock after acquiring an additional 3,604 shares during the period. Naviter Wealth LLC’s holdings in Vale were worth $1,149,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Vale during the fourth quarter worth $174,000. HighPoint Advisor Group LLC purchased a new stake in Vale during the 4th quarter worth about $567,000. CWM LLC boosted its stake in Vale by 352.9% in the 1st quarter. CWM LLC now owns 16,752 shares of the basic materials company’s stock worth $204,000 after purchasing an additional 13,053 shares during the period. Park Avenue Securities LLC grew its holdings in Vale by 6.8% during the 1st quarter. Park Avenue Securities LLC now owns 59,302 shares of the basic materials company’s stock valued at $723,000 after buying an additional 3,783 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in Vale by 44.3% during the 1st quarter. Ballentine Partners LLC now owns 22,954 shares of the basic materials company’s stock valued at $280,000 after buying an additional 7,052 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Stock Performance

NYSE:VALE opened at $10.73 on Friday. The company has a market capitalization of $48.10 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.30 and a beta of 0.93. The business has a 50 day moving average of $10.71 and a 200 day moving average of $11.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. Vale S.A. has a 1-year low of $9.66 and a 1-year high of $16.08.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Vale had a net margin of 23.07% and a return on equity of 22.23%. The firm had revenue of $9.92 billion during the quarter, compared to analyst estimates of $9.97 billion. On average, sell-side analysts predict that Vale S.A. will post 2.06 earnings per share for the current fiscal year.

Vale Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 5th were given a dividend of $0.3698 per share. This represents a yield of 12.1%. This is a positive change from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date was Monday, August 5th. Vale’s dividend payout ratio is presently 64.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VALE. JPMorgan Chase & Co. cut their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. Scotiabank cut their price target on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Tuesday. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. UBS Group lowered their price objective on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, July 5th. Finally, BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Vale presently has an average rating of “Moderate Buy” and an average price target of $16.15.

Vale 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.