Franklin Resources Inc. maintained its position in shares of Vale SA (NYSE:VALE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,399 shares of the basic materials company’s stock at the end of the fourth quarter. Franklin Resources Inc.’s holdings in Vale SA were worth $422,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VALE. William Blair Investment Management LLC bought a new stake in Vale SA during the fourth quarter worth $27,612,000. Investec Asset Management LTD bought a new stake in Vale SA during the fourth quarter worth $9,138,000. Van ECK Associates Corp increased its stake in Vale SA by 44.6% in the fourth quarter. Van ECK Associates Corp now owns 2,983,485 shares of the basic materials company’s stock worth $22,734,000 after buying an additional 920,083 shares during the last quarter. Impala Asset Management LLC bought a new stake in Vale SA during the fourth quarter worth $6,226,000. Finally, Calamos Advisors LLC bought a new stake in Vale SA during the fourth quarter worth $5,306,000. 7.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vale SA (NYSE:VALE) traded up 0.57% during midday trading on Friday, hitting $8.87. The stock had a trading volume of 29,321,759 shares. The firm’s 50-day moving average price is $9.50 and its 200-day moving average price is $8.67. Vale SA has a 1-year low of $3.85 and a 1-year high of $11.70. The stock has a market cap of $45.71 billion, a price-to-earnings ratio of 10.80 and a beta of 1.57. Vale SA also saw some unusual options trading activity on Wednesday. Stock investors purchased 2,963 call options on the stock. This is an increase of 200% compared to the typical daily volume of 988 call options.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, May 5th. Investors of record on Wednesday, April 26th will be issued a dividend of $0.2881 per share. This represents a yield of 5.8%. This is a positive change from Vale SA’s previous semiannual dividend of $0.19. The ex-dividend date is Monday, April 24th. Vale SA’s dividend payout ratio (DPR) is presently -4.00%.
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A number of analysts have recently weighed in on the company. Credit Suisse Group AG set a $7.00 target price on Vale SA and gave the company a “hold” rating in a research report on Saturday, February 18th. Royal Bank of Canada restated a “hold” rating and set a $11.00 price objective on shares of Vale SA in a research report on Wednesday. BMO Capital Markets upgraded Vale SA from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $7.00 to $10.00 in a research report on Friday, March 31st. Zacks Investment Research downgraded Vale SA from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Finally, Jefferies Group LLC restated a “hold” rating and set a $11.00 price objective on shares of Vale SA in a research report on Thursday, March 16th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $9.00.
About Vale SA
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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