Vale S.A. (NYSE:VALE) Short Interest Update

Vale S.A. (NYSE:VALE) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 113,190,000 shares, a decline of 15.0% from the February 13th total of 133,120,000 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 34,030,000 shares, the days-to-cover ratio is currently 3.3 days.

Vale Stock Performance

NYSE VALE opened at $10.21 on Thursday. The stock has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $9.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The firm has a market capitalization of $46.32 billion, a P/E ratio of 7.09, a PEG ratio of 0.31 and a beta of 0.85. Vale has a fifty-two week low of $8.38 and a fifty-two week high of $13.14.

Vale (NYSE:VALE) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.36). Vale had a net margin of 16.15% and a return on equity of 17.38%. The firm had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.03 billion. On average, equities analysts forecast that Vale will post 1.85 earnings per share for the current year.

Vale Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.3758 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Vale’s previous semi-annual dividend of $0.30. This represents a yield of 7.5%. Vale’s dividend payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VALE. Scotiabank reduced their price target on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Vale from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Barclays dropped their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their price objective on shares of Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley downgraded shares of Vale from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $14.50 to $11.30 in a research report on Thursday, December 12th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Vale currently has an average rating of “Hold” and a consensus price target of $13.26.

Hedge Funds Weigh In On Vale

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Vale by 6.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after buying an additional 468,432 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Vale in the 3rd quarter worth approximately $1,126,000. Bank of Montreal Can boosted its position in shares of Vale by 274.4% during the third quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after buying an additional 119,061 shares during the period. Bridgewater Associates LP boosted its holdings in Vale by 723.2% during the 3rd quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after acquiring an additional 1,788,205 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Vale in the third quarter valued at approximately $1,422,000. 21.85% of the stock is owned by hedge funds and other institutional investors.

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.