State Street Corp Increases Position in Vedanta Limited (VEDL)
State Street Corp lifted its holdings in Vedanta Limited (NYSE:VEDL) by 40.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,488,830 shares of the basic materials company’s stock after purchasing an additional 427,170 shares during the period. State Street Corp owned approximately 0.16% of Vedanta Limited worth $23,105,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in VEDL. Royal Bank of Canada lifted its stake in Vedanta Limited by 10,606.7% in the second quarter. Royal Bank of Canada now owns 6,424 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 6,364 shares during the last quarter. Pacad Investment Ltd. purchased a new position in Vedanta Limited in the second quarter worth approximately $120,000. SG Americas Securities LLC lifted its stake in Vedanta Limited by 22.6% in the second quarter. SG Americas Securities LLC now owns 10,613 shares of the basic materials company’s stock worth $165,000 after acquiring an additional 1,959 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Vedanta Limited by 11.6% in the second quarter. Eagle Asset Management Inc. now owns 14,313 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 1,485 shares during the last quarter. Finally, Profund Advisors LLC purchased a new position in Vedanta Limited in the second quarter worth approximately $245,000. Hedge funds and other institutional investors own 4.04% of the company’s stock.
Separately, BidaskClub upgraded shares of Vedanta Limited from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th.
Vedanta Limited (NYSE:VEDL) opened at $18.11 on Thursday. Vedanta Limited has a 12 month low of $11.55 and a 12 month high of $21.63. 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 stock has a market cap of $13,911.84, a P/E ratio of 15.64 and a beta of 1.89.
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About Vedanta Limited
Vedanta Limited is a natural resource company engaged in the business of manufacturing copper and copper products, and aluminum and aluminum products. The Company’s segments include Copper, which consists of manufacturing of copper cathode, continuous cast copper rod and anode slime, including from purchased concentrate and manufacturing of precious metal from anode slime, sulfuric acid, phosphoric acid; Iron ore; Aluminium, which consists of manufacturing of alumina and various aluminum products; Power, which consists of power, including power facilities engaged in generation and sale of commercial power, and Other, which consists pig iron and metallurgical coke.
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