Renaissance Technologies LLC Sells 2,559,369 Shares of Vale S.A. (NYSE:VALE)

Renaissance Technologies LLC lessened its position in Vale S.A. (NYSE:VALE) by 36.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,422,912 shares of the basic materials company’s stock after selling 2,559,369 shares during the period. Renaissance Technologies LLC owned about 0.10% of Vale worth $49,404,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VALE. Private Advisor Group LLC lifted its position in Vale by 7.6% in the 4th quarter. Private Advisor Group LLC now owns 24,112 shares of the basic materials company’s stock valued at $382,000 after acquiring an additional 1,712 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Vale by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,965,164 shares of the basic materials company’s stock valued at $47,029,000 after purchasing an additional 142,106 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Vale by 13.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,770 shares of the basic materials company’s stock valued at $361,000 after buying an additional 2,707 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Vale by 86.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,445 shares of the basic materials company’s stock valued at $975,000 after buying an additional 28,970 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Vale by 60.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 104,536 shares of the basic materials company’s stock worth $1,658,000 after buying an additional 39,234 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of VALE opened at $10.60 on Wednesday. The business has a 50-day simple moving average of $10.57 and a two-hundred day simple moving average of $11.55. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. Vale S.A. has a 52 week low of $9.66 and a 52 week high of $16.08. The stock has a market cap of $47.52 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 3.48 and a beta of 0.93.

Vale (NYSE:VALE) last released its earnings results on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Vale had a net margin of 23.07% and a return on equity of 22.23%. The company had revenue of $9.92 billion for the quarter, compared to analysts’ expectations of $9.97 billion. On average, analysts expect that Vale S.A. will post 2.13 EPS for the current year.

Vale Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 5th were paid a dividend of $0.3698 per share. This is a boost from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date was Monday, August 5th. This represents a dividend yield of 12.1%. Vale’s payout ratio is 64.09%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VALE shares. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. UBS Group cut their target price on shares of Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. Wolfe Research lowered shares of Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley reduced their price objective on Vale from $18.00 to $15.50 and set an “overweight” rating for the company in a research report on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.72.

Vale 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.