Guggenheim Capital LLC Boosts Holdings in Vale S.A. (NYSE:VALE)

Posted by Defense World Staff on Sep 2nd, 2023

Guggenheim Capital LLC boosted its position in shares of Vale S.A. (NYSE:VALE – Free Report) by 605.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,277 shares of the basic materials company’s stock after purchasing an additional 74,046 shares during the period. Guggenheim Capital LLC’s holdings in Vale were worth $1,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VALE. Schroder Investment Management Group grew its stake in shares of Vale by 6.9% during the fourth quarter. Schroder Investment Management Group now owns 35,578,820 shares of the basic materials company’s stock valued at $603,773,000 after acquiring an additional 2,305,324 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Vale by 93.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 31,188,702 shares of the basic materials company’s stock valued at $529,272,000 after buying an additional 15,047,063 shares during the last quarter. State Street Corp grew its position in shares of Vale by 1.6% during the second quarter. State Street Corp now owns 12,551,617 shares of the basic materials company’s stock worth $183,630,000 after buying an additional 198,699 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Vale by 14.2% in the second quarter. Macquarie Group Ltd. now owns 7,532,847 shares of the basic materials company’s stock worth $110,206,000 after buying an additional 938,320 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Vale by 54.8% in the first quarter. Russell Investments Group Ltd. now owns 6,683,747 shares of the basic materials company’s stock valued at $105,470,000 after acquiring an additional 2,365,703 shares in the last quarter. Hedge funds and other institutional investors own 16.90% of the company’s stock.

Vale Trading Up 6.2 %

Shares of VALE stock opened at $13.99 on Friday. Vale S.A. has a 1 year low of $11.72 and a 1 year high of $19.31. The firm has a market capitalization of $62.72 billion, a PE ratio of 5.80 and a beta of 0.86. The stock has a fifty day moving average of $13.59 and a two-hundred day moving average of $14.48. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 1.15.

Vale (NYSE:VALE – Get Free Report) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.33). The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.82 billion. Vale had a net margin of 27.29% and a return on equity of 28.86%. As a group, research analysts expect that Vale S.A. will post 1.89 EPS for the current year.

Vale Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, September 11th. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.4056 per share. This is a positive change from Vale’s previous semi-annual dividend of $0.35. This represents a yield of 5.1%. The ex-dividend date is Monday, August 14th. Vale’s dividend payout ratio (DPR) is presently 28.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Vale from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $15.00 to $16.00 in a research report on Friday. Morgan Stanley decreased their target price on Vale from $18.00 to $17.00 in a research report on Wednesday, June 21st. BNP Paribas downgraded shares of Vale from a “neutral” rating to an “underperform” rating and set a $13.20 price objective for the company. in a report on Wednesday, June 28th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Vale in a report on Thursday, July 20th. Finally, Scotiabank lowered shares of Vale from a “sector outperform” rating to a “sector perform” rating and set a $16.00 price target for the company. in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Vale presently has an average rating of “Moderate Buy” and an average price target of $16.82.

Read Our Latest Stock Analysis on Vale

Vale Company Profile

(Free Report)

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.