Vale (NYSE:VALE) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Vale (NYSE:VALE) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks reports.

A number of other research firms have also issued reports on VALE. The Goldman Sachs Group lowered Vale from a “buy” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $16.00 in a report on Monday, July 27th. Barclays upped their price target on Vale from $16.75 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $18.00 price objective on shares of Vale in a research note on Friday, May 15th. Freedom Broker lowered Vale from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vale in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.33.

Vale Stock Up 1.9%

VALE stock opened at $15.55 on Monday. 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 firm has a market capitalization of $70.60 billion, a P/E ratio of 31.74 and a beta of 0.49. Vale has a 52-week low of $10.33 and a 52-week high of $17.94. The company’s 50 day simple moving average is $14.69 and its 200-day simple moving average is $15.59.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Vale had a return on equity of 19.87% and a net margin of 5.11%.The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.47 billion. As a group, equities research analysts anticipate that Vale will post 1.9 EPS for the current year.

Vale Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 13th will be given a dividend of $0.3088 per share. The ex-dividend date of this dividend is Thursday, August 13th. Vale’s dividend payout ratio (DPR) is presently 89.80%.

Institutional Trading of Vale

Large investors have recently added to or reduced their stakes in the business. Todd Asset Management LLC boosted its stake in Vale by 51.6% during the fourth quarter. Todd Asset Management LLC now owns 6,239,516 shares of the basic materials company’s stock worth $81,301,000 after buying an additional 2,124,412 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Vale in the 4th quarter valued at $6,038,000. Qtron Investments LLC lifted its holdings in shares of Vale by 79.6% during the 4th quarter. Qtron Investments LLC now owns 149,116 shares of the basic materials company’s stock worth $1,943,000 after acquiring an additional 66,093 shares during the period. Pinebridge Investments LLC bought a new position in shares of Vale during the 4th quarter worth about $4,642,000. Finally, Cibc World Market Inc. boosted its position in shares of Vale by 9.1% during the 4th quarter. Cibc World Market Inc. now owns 816,277 shares of the basic materials company’s stock valued at $10,636,000 after acquiring an additional 67,987 shares in the last quarter. 21.85% of the stock is owned by institutional investors.

About Vale

Vale SA is a Brazilian mining and logistics company headquartered in Rio de Janeiro. Its principal business is the production of iron ore and iron ore pellets, which are supplied to steelmakers around the world. The company also produces nickel, copper, manganese, coal and other mineral products.

Vale operates mining, processing, transportation and logistics infrastructure, including railways, ports and maritime terminals. Its operations and projects span Brazil and other jurisdictions, including Canada and Indonesia, enabling the company to serve customers in international markets.

The company was established in 1942 as Companhia Vale do Rio Doce and was privatized in 1997.