Driehaus Capital Management LLC trimmed its position in Vedanta Limited (NYSE:VEDL) by 54.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,634 shares of the basic materials company’s stock after selling 22,346 shares during the period. Driehaus Capital Management LLC’s holdings in Vedanta were worth $388,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in VEDL. Renaissance Technologies LLC boosted its position in shares of Vedanta by 17.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,237,960 shares of the basic materials company’s stock worth $46,617,000 after purchasing an additional 328,000 shares during the last quarter. New Vernon Capital Holdings II LLC boosted its position in shares of Vedanta by 58.7% in the 4th quarter. New Vernon Capital Holdings II LLC now owns 130,050 shares of the basic materials company’s stock worth $2,709,000 after purchasing an additional 48,092 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Vedanta by 121.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,550,962 shares of the basic materials company’s stock worth $32,307,000 after purchasing an additional 851,541 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Vedanta in the 4th quarter worth $207,000. Finally, BlackRock Inc. boosted its position in shares of Vedanta by 1.0% in the 4th quarter. BlackRock Inc. now owns 4,255,277 shares of the basic materials company’s stock worth $88,639,000 after purchasing an additional 42,170 shares during the last quarter. Hedge funds and other institutional investors own 4.46% of the company’s stock.
Several research analysts have recently issued reports on VEDL shares. JPMorgan Chase upgraded Vedanta from a “neutral” rating to an “overweight” rating in a research report on Monday, February 5th. ValuEngine lowered Vedanta from a “hold” rating to a “sell” rating in a research report on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold”.
Shares of NYSE:VEDL traded down $0.63 during midday trading on Friday, hitting $17.36. The company had a trading volume of 535,448 shares, compared to its average volume of 473,205. Vedanta Limited has a 12 month low of $13.78 and a 12 month high of $21.99. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $13,333.72, a P/E ratio of 13.95 and a beta of 1.89.
Vedanta (NYSE:VEDL) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.36 earnings per share (EPS) for the quarter. The business had revenue of $3.85 billion for the quarter. Vedanta had a return on equity of 19.51% and a net margin of 7.87%.
The firm also recently disclosed an annual dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 23rd will be paid a dividend of $1.3038 per share. This represents a yield of 6.65%. The ex-dividend date of this dividend is Thursday, March 22nd. This is an increase from Vedanta’s previous annual dividend of $0.09.
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Vedanta Limited, a diversified natural resources company, engages in exploring, extracting, and processing minerals, and oil and gas in India. It produces oil and gas, zinc, lead, silver, copper, iron ore, and aluminum. The company also operates 600 megawatts of thermal coal based power facility in the State of Odisha; and 274 megawatts of wind power plants.
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