Vedanta (VEDL) Trading Down 3.6%

Vedanta Ltd (NYSE:VEDL) fell 3.6% on Friday . The stock traded as low as $17.75 and last traded at $17.16. 409,445 shares were traded during trading, a decline of 26% from the average session volume of 555,308 shares. The stock had previously closed at $17.81.

Several brokerages have recently weighed in on VEDL. ValuEngine downgraded shares of Vedanta from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Vedanta from a “neutral” rating to an “overweight” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold”.

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The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $13,200.31, a PE ratio of 13.86 and a beta of 1.84.

The company also recently disclosed an annual dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 23rd will be given a $1.3038 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a yield of 6.65%. This is an increase from Vedanta’s previous annual dividend of $0.09. Vedanta’s dividend payout ratio (DPR) is presently 626.02%.

A number of large investors have recently made changes to their positions in the stock. William Blair Investment Management LLC acquired a new stake in Vedanta in the fourth quarter valued at about $8,131,000. Banco de Sabadell S.A acquired a new stake in Vedanta in the fourth quarter valued at about $516,000. Macquarie Group Ltd. lifted its position in Vedanta by 357.1% in the fourth quarter. Macquarie Group Ltd. now owns 227,667 shares of the basic materials company’s stock valued at $4,954,000 after purchasing an additional 177,861 shares during the period. Millennium Management LLC acquired a new stake in Vedanta in the fourth quarter valued at about $419,000. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in Vedanta by 72.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 369,600 shares of the basic materials company’s stock valued at $7,698,000 after purchasing an additional 155,600 shares during the period. Hedge funds and other institutional investors own 4.46% of the company’s stock.

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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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