Tidal Investments LLC Increases Stock Position in Vale S.A. (NYSE:VALE)

Tidal Investments LLC boosted its stake in Vale S.A. (NYSE:VALE) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,419 shares of the basic materials company’s stock after acquiring an additional 42,118 shares during the period. Tidal Investments LLC’s holdings in Vale were worth $3,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VALE. Versant Capital Management Inc acquired a new stake in shares of Vale in the first quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new position in shares of Vale during the fourth quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new position in shares of Vale in the 4th quarter valued at $31,000. GAMMA Investing LLC acquired a new position in shares of Vale in the 4th quarter valued at $32,000. Finally, Accordant Advisory Group Inc acquired a new position in shares of Vale during the 1st quarter valued at $43,000. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Stock Down 0.4 %

Vale stock traded down $0.04 during trading hours on Friday, hitting $10.44. The company had a trading volume of 7,273,145 shares, compared to its average volume of 25,919,422. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.79. The firm has a market capitalization of $46.80 billion, a P/E ratio of 5.79, a price-to-earnings-growth ratio of 3.69 and a beta of 0.96. Vale S.A. has a fifty-two week low of $10.40 and a fifty-two week high of $16.08. The firm’s fifty day moving average is $11.35 and its 200-day moving average is $12.33.

Vale Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 5th will be issued a dividend of $0.3698 per share. This is an increase from Vale’s previous semi-annual dividend of $0.32. This represents a dividend yield of 12.1%. The ex-dividend date is Monday, August 5th. Vale’s dividend payout ratio is currently 65.19%.

Wall Street Analysts Forecast Growth

VALE has been the topic of several analyst reports. UBS Group dropped their price target on shares of Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Wolfe Research downgraded shares of Vale from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 17th. Morgan Stanley dropped their target price on shares of Vale from $18.00 to $15.50 and set an “overweight” rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. dropped their target price on shares of Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Barclays boosted their target price on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Vale has an average rating of “Moderate Buy” and an average target price of $16.72.

Vale Company Profile

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.