Albemarle Corporation (ALB) : Spf Beheer Bv reduced its stake in Albemarle Corporation by 5.16% during the most recent quarter end. The investment management company now holds a total of 1,021,493 shares of Albemarle Corporation which is valued at $84,354,892 after selling 55,582 shares in Albemarle Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Albemarle Corporation makes up approximately 4.29% of Spf Beheer Bv’s portfolio.
Other Hedge Funds, Including , Egerton Capital (uk) Llp added ALB to its portfolio by purchasing 1,495,236 company shares during the most recent quarter which is valued at $123,476,589. Albemarle Corporation makes up approx 1.29% of Egerton Capital (uk) Llp’s portfolio. Neuberger Berman Group added ALB to its portfolio by purchasing 3,771 company shares during the most recent quarter which is valued at $310,466.Wedge Capital Management L L Pnc reduced its stake in ALB by selling 43,317 shares or 30.78% in the most recent quarter. The Hedge Fund company now holds 97,425 shares of ALB which is valued at $8,200,262. Albemarle Corporation makes up approx 0.09% of Wedge Capital Management L L Pnc’s portfolio.Proficio Capital Partners reduced its stake in ALB by selling 104 shares or 25.12% in the most recent quarter. The Hedge Fund company now holds 310 shares of ALB which is valued at $26,093. Albemarle Corporation makes up approx 0.02% of Proficio Capital Partners’s portfolio.Jag Capital Management boosted its stake in ALB in the latest quarter, The investment management firm added 42,007 additional shares and now holds a total of 139,613 shares of Albemarle Corporation which is valued at $11,868,501. Albemarle Corporation makes up approx 2.28% of Jag Capital Management’s portfolio.
Albemarle Corporation opened for trading at $83.48 and hit $84.79 on the upside on Monday, eventually ending the session at $84.08, with a gain of 1.29% or 1.07 points. The heightened volatility saw the trading volume jump to 11,35,752 shares. Company has a market cap of $9,451 M.
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.