Vale S.A. (NYSE:VALE) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC increased its position in shares of Vale S.A. (NYSE:VALE) by 99.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,246 shares of the basic materials company’s stock after acquiring an additional 6,617 shares during the period. Sound Income Strategies LLC’s holdings in Vale were worth $148,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. SPX Gestao de Recursos Ltda boosted its stake in shares of Vale by 1,422.7% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock worth $136,175,000 after acquiring an additional 8,022,188 shares in the last quarter. Norden Group LLC boosted its position in shares of Vale by 3,952.2% in the 1st quarter. Norden Group LLC now owns 3,343,572 shares of the basic materials company’s stock valued at $40,758,000 after purchasing an additional 3,261,060 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Vale by 49,161.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,440,413 shares of the basic materials company’s stock valued at $38,705,000 after purchasing an additional 2,435,459 shares during the period. Wellington Management Group LLP increased its stake in Vale by 22.0% in the 4th quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock worth $195,319,000 after purchasing an additional 2,224,756 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in Vale by 36.0% during the 4th quarter. Ninety One UK Ltd now owns 8,396,322 shares of the basic materials company’s stock worth $133,166,000 after buying an additional 2,220,317 shares during the period. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Stock Up 1.0 %

Shares of NYSE:VALE traded up $0.10 during midday trading on Friday, hitting $10.27. 33,557,700 shares of the stock were exchanged, compared to its average volume of 26,333,301. The company has a market capitalization of $46.04 billion, a PE ratio of 5.67, a P/E/G ratio of 3.57 and a beta of 0.96. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.08. The business’s fifty day simple moving average is $11.09 and its two-hundred day simple moving average is $12.16.

Vale Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.3698 per share. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Vale’s previous semi-annual dividend of $0.32. This represents a dividend yield of 12.1%. Vale’s dividend payout ratio (DPR) is 82.32%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of Vale from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, July 5th. Morgan Stanley lowered their price objective on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Barclays boosted their target price on shares of Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Finally, Wolfe Research lowered Vale from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.