526,033 Shares in Vale S.A. $VALE Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new stake in Vale S.A. (NYSE:VALE) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 526,033 shares of the basic materials company’s stock, valued at approximately $5,713,000.

Other hedge funds also recently modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new stake in shares of Vale during the 3rd quarter worth approximately $3,126,000. one8zero8 LLC lifted its position in Vale by 25.0% in the third quarter. one8zero8 LLC now owns 40,000 shares of the basic materials company’s stock worth $434,000 after purchasing an additional 8,000 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Vale by 85.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,024 shares of the basic materials company’s stock worth $3,790,000 after purchasing an additional 160,417 shares during the period. Ballentine Partners LLC boosted its stake in Vale by 16.4% during the third quarter. Ballentine Partners LLC now owns 28,617 shares of the basic materials company’s stock worth $311,000 after buying an additional 4,040 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Vale by 19.8% in the 3rd quarter. Truist Financial Corp now owns 49,733 shares of the basic materials company’s stock valued at $540,000 after buying an additional 8,206 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Stock Up 0.2%

Shares of VALE stock opened at $16.31 on Friday. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $17.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 0.82. The firm has a 50-day moving average price of $14.17 and a 200 day moving average price of $12.07.

Vale Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 12th were given a dividend of $0.2331 per share. The ex-dividend date was Friday, December 12th. Vale’s dividend payout ratio is 67.69%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VALE shares. JPMorgan Chase & Co. increased their price objective on shares of Vale from $13.50 to $14.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Zacks Research lowered shares of Vale from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Vale from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 28th. Scotiabank downgraded Vale from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the company from $14.00 to $15.00 in a report on Thursday, January 8th. Finally, Barclays increased their target price on Vale from $14.50 to $15.50 and gave the stock an “overweight” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.73.

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.