555,301 Shares in Vale S.A. (NYSE:VALE) Bought by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. bought a new position in Vale S.A. (NYSE:VALEGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 555,301 shares of the basic materials company’s stock, valued at approximately $11,100,000.

Several other hedge funds also recently made changes to their positions in VALE. Forefront Analytics LLC purchased a new stake in shares of Vale during the first quarter worth about $275,000. Intercontinental Wealth Advisors LLC increased its stake in shares of Vale by 2.4% in the first quarter. Intercontinental Wealth Advisors LLC now owns 45,874 shares of the basic materials company’s stock worth $917,000 after buying an additional 1,065 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Vale by 11.5% during the first quarter. Checchi Capital Advisers LLC now owns 44,456 shares of the basic materials company’s stock valued at $889,000 after purchasing an additional 4,588 shares during the last quarter. Gemsstock Ltd. bought a new stake in Vale during the first quarter valued at $39,466,000. Finally, Banque Cantonale Vaudoise increased its stake in Vale by 114.0% during the first quarter. Banque Cantonale Vaudoise now owns 132,974 shares of the basic materials company’s stock valued at $2,659,000 after purchasing an additional 70,849 shares during the last quarter. Institutional investors and hedge funds own 23.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VALE shares. Exane BNP Paribas downgraded shares of Vale from an “outperform” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Wednesday, July 13th. StockNews.com assumed coverage on shares of Vale in a report on Tuesday, May 31st. They issued a “buy” rating for the company. BNP Paribas downgraded shares of Vale from an “outperform” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Wednesday, July 13th. Morgan Stanley reissued an “equal weight” rating on shares of Vale in a report on Thursday, June 23rd. Finally, Clarkson Capital reissued a “buy” rating on shares of Vale in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vale presently has a consensus rating of “Hold” and a consensus target price of $17.65.

Vale Trading Up 2.6 %

VALE traded up $0.34 during midday trading on Friday, reaching $13.20. 42,928,913 shares of the company were exchanged, compared to its average volume of 33,223,498. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.32. Vale S.A. has a one year low of $11.16 and a one year high of $21.36. The stock has a market capitalization of $65.99 billion, a P/E ratio of 3.24, a PEG ratio of 1.09 and a beta of 0.93. The stock’s 50-day simple moving average is $14.73 and its 200 day simple moving average is $16.70.

Vale Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a dividend of $0.3907 per share. This represents a dividend yield of 21.9%. The ex-dividend date of this dividend is Friday, August 12th. Vale’s dividend payout ratio is currently 35.54%.

About Vale

(Get Rating)

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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

Further Reading

Want to see what other hedge funds are holding VALE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vale S.A. (NYSE:VALEGet Rating).

Institutional Ownership by Quarter for Vale (NYSE:VALE)

Receive News & Ratings for Vale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vale and related companies with MarketBeat.com's FREE daily email newsletter.