ClariVest Asset Management LLC increased its stake in shares of Vedanta Limited (NYSE:VEDL) by 57.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,700 shares of the basic materials company’s stock after purchasing an additional 151,200 shares during the quarter. ClariVest Asset Management LLC owned about 0.06% of Vedanta worth $7,251,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Signaturefd LLC bought a new position in Vedanta in the first quarter valued at approximately $218,000. O Shaughnessy Asset Management LLC boosted its stake in Vedanta by 22.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,181 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 3,377 shares during the last quarter. Aperio Group LLC boosted its stake in Vedanta by 9.0% in the first quarter. Aperio Group LLC now owns 513,231 shares of the basic materials company’s stock valued at $9,017,000 after acquiring an additional 42,482 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Vedanta in the first quarter valued at approximately $1,090,000. Finally, Mackay Shields LLC bought a new position in Vedanta in the first quarter valued at approximately $1,084,000. 4.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on VEDL. JPMorgan Chase raised shares of Vedanta from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th. ValuEngine raised shares of Vedanta from a “sell” rating to a “hold” rating in a research report on Wednesday, April 18th.
Vedanta (NYSE:VEDL) last announced its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $0.66 earnings per share for the quarter. The company had revenue of $4.29 billion for the quarter. Vedanta had a net margin of 10.98% and a return on equity of 24.61%.
Vedanta Company Profile
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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