Albemarle Corporation (ALB) : Brookside Capital Management added new position in Albemarle Corporation during the most recent quarter end. The investment management firm now holds 1,040,776 shares of Albemarle Corporation which is valued at $86,394,816 , the company said in a statement filed on Aug 15, 2016 with the SEC.Albemarle Corporation makes up approximately 3.28% of Brookside Capital Management’s portfolio.
Other Hedge Funds, Including , Millennium Management reduced its stake in ALB by selling 795,216 shares or 76.69% in the most recent quarter. The Hedge Fund company now holds 241,698 shares of ALB which is valued at $20,063,351. Albemarle Corporation makes up approx 0.05% of Millennium Management’s portfolio. State Of Tennessee Treasury Department added ALB to its portfolio by purchasing 25,300 company shares during the most recent quarter which is valued at $2,100,153. Albemarle Corporation makes up approx 0.01% of State Of Tennessee Treasury Department’s portfolio. Cleararc Capital Inc added ALB to its portfolio by purchasing 2,981 company shares during the most recent quarter which is valued at $247,453. Albemarle Corporation makes up approx 0.05% of Cleararc Capital Inc’s portfolio.Mizuho Asset Managementltd. boosted its stake in ALB in the latest quarter, The investment management firm added 794 additional shares and now holds a total of 1,605 shares of Albemarle Corporation which is valued at $133,231. Albemarle Corporation makes up approx 0.02% of Mizuho Asset Managementltd.’s portfolio.Winslow Evans Crocker reduced its stake in ALB by selling 549 shares or 6.77% in the most recent quarter. The Hedge Fund company now holds 7,562 shares of ALB which is valued at $642,846. Albemarle Corporation makes up approx 0.19% of Winslow Evans Crocker’s portfolio.
Albemarle Corporation opened for trading at $79.95 and hit $81.3 on the upside on Thursday, eventually ending the session at $81.3, with a gain of 1.66% or 1.33 points. The heightened volatility saw the trading volume jump to 11,81,887 shares. Company has a market cap of $9,138 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 .
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.