Thu Sep 26 15:03:23 UTC 2024: ## Pacer Advisors Boosts Vale Stake, Other Investors Join In
**New York, NY (MarketBeat News) -** Pacer Advisors Inc. increased its holdings in Brazilian mining giant Vale S.A. (NYSE: VALE) by a significant 59.1% during the second quarter, according to a recent SEC filing. The fund now owns 175,683 shares, valued at $1,962,000, after adding 65,247 shares.
Pacer Advisors wasn’t alone in its bullish stance. Other institutional investors and hedge funds also made moves on Vale in recent quarters. Notably, Versant Capital Management Inc. purchased a new stake worth $26,000 in the first quarter, while Pacifica Partners Inc. acquired a new position valued at $27,000 in the second quarter.
The increased institutional interest comes as Vale continues to deliver strong returns to shareholders. The company recently paid a semi-annual dividend of $0.3698 per share, representing a 12.1% yield and a boost from the previous dividend.
Despite positive developments, analysts remain divided on Vale’s future. Morgan Stanley and JPMorgan Chase & Co. both reduced their price targets on the stock, while Wolfe Research downgraded Vale from “outperform” to “peer perform.” However, UBS Group maintained a “buy” rating and other analysts also expressed optimism.
Overall, Vale’s stock has been volatile, with a twelve-month low of $9.66 and a twelve-month high of $16.08. The company’s current market capitalization stands at $50.03 billion.
**Analysts’ View:** MarketBeat currently gives Vale a “Moderate Buy” rating with a consensus target price of $16.17.
**Investors are encouraged to consult with financial advisors before making any investment decisions.**
First Piper 