Alliancebernstein L.P. trimmed its holdings in shares of Vedanta Ltd (NYSE:VEDL) by 51.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 808,855 shares of the basic materials company’s stock after selling 857,526 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Vedanta worth $10,353,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Vedanta by 22.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,934,360 shares of the basic materials company’s stock worth $39,907,000 after buying an additional 543,900 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Vedanta by 23.0% in the 2nd quarter. First Trust Advisors LP now owns 1,382,087 shares of the basic materials company’s stock worth $18,796,000 after buying an additional 258,589 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Vedanta by 42.8% in the 3rd quarter. Aperio Group LLC now owns 681,598 shares of the basic materials company’s stock worth $8,724,000 after buying an additional 204,386 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Vedanta by 372.5% in the 2nd quarter. Millennium Management LLC now owns 653,778 shares of the basic materials company’s stock worth $8,891,000 after buying an additional 515,424 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Vedanta by 1.9% in the 2nd quarter. Northern Trust Corp now owns 431,996 shares of the basic materials company’s stock worth $5,875,000 after buying an additional 8,066 shares during the last quarter. Institutional investors and hedge funds own 4.56% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine upgraded Vedanta from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Goldman Sachs Group assumed coverage on Vedanta in a research note on Tuesday, August 28th. They issued a “buy” rating on the stock.
VEDL stock opened at $10.84 on Friday. The firm has a market capitalization of $8.54 billion, a PE ratio of 7.84 and a beta of 2.12. Vedanta Ltd has a 1 year low of $10.66 and a 1 year high of $21.99. The company has a current ratio of 0.98, a quick ratio of 0.77 and a debt-to-equity ratio of 0.47.
The company also recently declared a dividend, which was paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 13th were paid a $0.909 dividend. The ex-dividend date of this dividend was Friday, November 9th.
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Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.
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