Banco Santander S.A. Has $7.87 Million Stake in Vale S.A. (NYSE:VALE)

Banco Santander S.A. lowered its position in Vale S.A. (NYSE:VALEGet Rating) by 69.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 393,786 shares of the basic materials company’s stock after selling 878,791 shares during the period. Banco Santander S.A.’s holdings in Vale were worth $7,872,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Forefront Analytics LLC bought a new stake in Vale in the first quarter worth approximately $275,000. Intercontinental Wealth Advisors LLC increased its position in Vale by 2.4% during the first quarter. Intercontinental Wealth Advisors LLC now owns 45,874 shares of the basic materials company’s stock worth $917,000 after buying an additional 1,065 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Vale by 11.5% during the first quarter. Checchi Capital Advisers LLC now owns 44,456 shares of the basic materials company’s stock valued at $889,000 after buying an additional 4,588 shares in the last quarter. Gemsstock Ltd. acquired a new stake in shares of Vale in the first quarter worth about $39,466,000. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Vale by 114.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 132,974 shares of the basic materials company’s stock worth $2,659,000 after acquiring an additional 70,849 shares in the last quarter. Institutional investors and hedge funds own 23.37% of the company’s stock.

Vale Trading Up 2.6 %

Shares of VALE stock opened at $13.20 on Friday. The firm has a fifty day moving average of $14.73 and a 200-day moving average of $16.70. The stock has a market cap of $65.99 billion, a price-to-earnings ratio of 3.24, a P/E/G ratio of 1.09 and a beta of 0.93. Vale S.A. has a 52-week low of $11.16 and a 52-week high of $21.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.32.

Vale Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be given a $0.3907 dividend. This represents a yield of 21.9%. The ex-dividend date is Friday, August 12th. Vale’s dividend payout ratio (DPR) is presently 35.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised Vale from a “hold” rating to a “buy” rating and raised their price objective for the company from $17.00 to $24.00 in a research note on Tuesday, June 7th. Clarkson Capital reaffirmed a “buy” rating on shares of Vale in a report on Tuesday, June 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Vale from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, June 29th. Exane BNP Paribas cut shares of Vale from an “outperform” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Wednesday, July 13th. Finally, Royal Bank of Canada dropped their price objective on Vale from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Monday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.65.

Vale Company Profile

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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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

See Also

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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