Baring Asset Management Ltd buys $22,953,734 stake in Albemarle Corporation (ALB)

Albemarle Corporation (ALB) : Baring Asset Management Ltd scooped up 9,128 additional shares in Albemarle Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 270,617 shares of Albemarle Corporation which is valued at $22,953,734.Albemarle Corporation makes up approximately 1.81% of Baring Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Gryphon International Investment Corp reduced its stake in ALB by selling 3,530 shares or 2.6% in the most recent quarter. The Hedge Fund company now holds 132,405 shares of ALB which is valued at $11,255,749. Albemarle Corporation makes up approx 2.50% of Gryphon International Investment Corp’s portfolio.Nordea Investment Management Ab reduced its stake in ALB by selling 233 shares or 14.16% in the most recent quarter. The Hedge Fund company now holds 1,412 shares of ALB which is valued at $122,307.Capstone Asset Management Co boosted its stake in ALB in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 11,458 shares of Albemarle Corporation which is valued at $980,232. Albemarle Corporation makes up approx 0.03% of Capstone Asset Management Co’s portfolio. Weaver C. Barksdale Associates sold out all of its stake in ALB during the most recent quarter. The investment firm sold 240 shares of ALB which is valued $20,532.

Albemarle Corporation closed down -0.94 points or -1.10% at $84.17 with 17,02,227 shares getting traded on Friday. Post opening the session at $84.79, the shares hit an intraday low of $83.31 and an intraday high of $84.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Albemarle Corporation reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.86. The company had revenue of $865.40 million for the quarter, compared to analysts expectations of $814.81 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.

Investors should note that on Jul 11, 2016, Albemarle Corporation announced a cash dividend of $0.3050. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Albemarle Corporation. Company shares were Reiterated by Deutsche Bank on Jun 20, 2016 to “Buy”, Firm has raised the Price Target to $ 94 from a previous price target of $84 .Company shares were Reiterated by Deutsche Bank on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 84 from a previous price target of $72 .

Albemarle Corporation (Albemarle) is a developer manufacturer and marketer of specialty chemicals across a range of end markets including the petroleum refining consumer electronics plastics/packaging construction automotive lubricants pharmaceuticals crop protection food-safety and custom chemistry services markets. The Company operates through two segments: Performance Chemicals and Catalyst Solutions. As of December 31 2014 the Performance Chemicals segment includes the Fire Safety Solutions Specialty Chemicals and Fine Chemistry Services product categories. As of December 31 2014 the Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories.

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