Alps Advisors Inc. Cuts Position in Vedanta Ltd (VEDL)

Alps Advisors Inc. decreased its holdings in Vedanta Ltd (NYSE:VEDL) by 11.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 51,900 shares of the basic materials company’s stock after selling 6,765 shares during the period. Alps Advisors Inc.’s holdings in Vedanta were worth $1,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D raised its stake in shares of Vedanta by 42.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 189,400 shares of the basic materials company’s stock valued at $2,576,000 after purchasing an additional 56,100 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Vedanta by 54.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 95,828 shares of the basic materials company’s stock worth $1,303,000 after acquiring an additional 33,798 shares in the last quarter. Mondrian Investment Partners LTD raised its position in Vedanta by 36.4% in the second quarter. Mondrian Investment Partners LTD now owns 2,772,006 shares of the basic materials company’s stock worth $37,699,000 after acquiring an additional 739,340 shares in the last quarter. Boston Advisors LLC raised its position in Vedanta by 25.1% in the second quarter. Boston Advisors LLC now owns 32,606 shares of the basic materials company’s stock worth $443,000 after acquiring an additional 6,532 shares in the last quarter. Finally, Millennium Management LLC raised its position in Vedanta by 587.4% in the first quarter. Millennium Management LLC now owns 138,354 shares of the basic materials company’s stock worth $2,431,000 after acquiring an additional 118,226 shares in the last quarter. Hedge funds and other institutional investors own 4.79% of the company’s stock.

Shares of Vedanta stock opened at $11.80 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 0.36. Vedanta Ltd has a 52 week low of $11.58 and a 52 week high of $21.99. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 7.71 and a beta of 1.96.

Vedanta (NYSE:VEDL) last issued its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $0.25 EPS for the quarter. Vedanta had a net margin of 10.77% and a return on equity of 27.06%. The firm had revenue of $3.38 billion for the quarter.

Separately, ValuEngine upgraded shares of Vedanta from a “sell” rating to a “hold” rating in a research report on Monday, June 4th.

About Vedanta

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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Institutional Ownership by Quarter for Vedanta (NYSE:VEDL)

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