Vedanta Ltd (VEDL) Short Interest Up 47.1% in February

Vedanta Ltd (NYSE:VEDL) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 2,938,043 shares, an increase of 47.1% from the February 15th total of 1,996,722 shares. Based on an average daily volume of 473,738 shares, the days-to-cover ratio is currently 6.2 days.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its position in Vedanta by 19.0% during the 3rd quarter. Macquarie Group Ltd. now owns 49,806 shares of the basic materials company’s stock worth $964,000 after purchasing an additional 7,952 shares in the last quarter. Eagle Asset Management Inc. increased its position in Vedanta by 36.4% during the 4th quarter. Eagle Asset Management Inc. now owns 22,484 shares of the basic materials company’s stock worth $465,000 after purchasing an additional 6,002 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Vedanta by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 452,597 shares of the basic materials company’s stock worth $8,762,000 after purchasing an additional 50,396 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Vedanta during the 4th quarter worth approximately $1,081,000. Finally, Comerica Bank increased its position in Vedanta by 25.3% during 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 in the last quarter. 4.43% of the stock is owned by hedge funds and other institutional investors.

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Separately, JPMorgan Chase & Co. raised shares of Vedanta from a “neutral” rating to an “overweight” rating in a research report on Monday, February 5th.

Shares of Vedanta (VEDL) opened at $19.29 on Friday. The stock has a market cap of $14,393.60, a P/E ratio of 15.68 and a beta of 1.84. Vedanta has a 1 year low of $13.78 and a 1 year high of $21.99. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38.

The firm also recently announced an annual dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 23rd will be given a dividend of $1.3038 per share. This represents a yield of 6.65%. The ex-dividend date is Thursday, March 22nd. This is an increase from Vedanta’s previous annual dividend of $0.09. Vedanta’s dividend payout ratio is 87.80%.

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About Vedanta

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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