Stock Traders Buy High Volume of Vedanta Call Options (VEDL)
Vedanta Ltd (NYSE:VEDL) saw unusually large options trading on Thursday. Investors bought 644 call options on the company. This is an increase of 1,115% compared to the average volume of 53 call options.
Separately, JPMorgan Chase & Co. raised Vedanta from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th.
A number of institutional investors have recently made changes to their positions in VEDL. Royal Bank of Canada raised its holdings in Vedanta by 10,606.7% in the 2nd quarter. Royal Bank of Canada now owns 6,424 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 6,364 shares during the period. Crossmark Global Holdings Inc. bought a new position in Vedanta in the 3rd quarter worth $263,000. Principal Financial Group Inc. raised its holdings in Vedanta by 142.2% in the 3rd quarter. Principal Financial Group Inc. now owns 484,262 shares of the basic materials company’s stock worth $9,375,000 after purchasing an additional 284,287 shares during the period. Comerica Bank raised its holdings in Vedanta by 25.3% in the 3rd quarter. Comerica Bank now owns 49,923 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 10,083 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Vedanta in the 3rd quarter worth $2,113,000. 4.46% of the stock is currently owned by institutional investors.
The business also recently announced an annual dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 23rd will be issued a $1.3038 dividend. This is a boost from Vedanta’s previous annual dividend of $0.09. This represents a yield of 6.65%. The ex-dividend date of this dividend is Thursday, March 22nd. Vedanta’s dividend payout ratio (DPR) is currently 87.80%.
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Vedanta Company Profile
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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