Baring Asset Management Ltd buys $17,300,112 stake in Albemarle Corporation (ALB)

Albemarle Corporation (ALB) : Baring Asset Management Ltd scooped up 676 additional shares in Albemarle Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 25, 2016. The investment management firm now holds a total of 261,489 shares of Albemarle Corporation which is valued at $17,300,112.Albemarle Corporation makes up approximately 1.43% of Baring Asset Management Ltd’s portfolio.

Albemarle Corporation opened for trading at $66.42 and hit $68.36 on the upside on Monday, eventually ending the session at $67.9, with a gain of 2.63% or 1.74 points. The heightened volatility saw the trading volume jump to 11,77,211 shares. Company has a market cap of $7,622 M.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in ALB by selling 6,897 shares or 74.27% in the most recent quarter. The Hedge Fund company now holds 2,390 shares of ALB which is valued at $158,314.Metlife Securities Inc reduced its stake in ALB by selling 218 shares or 10.87% in the most recent quarter. The Hedge Fund company now holds 1,788 shares of ALB which is valued at $118,437.Gulf International Bank (uk) Ltd reduced its stake in ALB by selling 2,920 shares or 7.74% in the most recent quarter. The Hedge Fund company now holds 34,809 shares of ALB which is valued at $2,305,748. Albemarle Corporation makes up approx 0.04% of Gulf International Bank (uk) Ltd’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in ALB in the latest quarter, The investment management firm added 1,452 additional shares and now holds a total of 46,644 shares of Albemarle Corporation which is valued at $3,049,118. Albemarle Corporation makes up approx 0.07% of Oregon Public Employees Retirement Fund’s portfolio.

On the company’s financial health, Albemarle Corporation reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.83. The company had revenue of $930.40 million for the quarter, compared to analysts expectations of $885.71 million. The company’s revenue was up 55.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Many Wall Street Analysts have commented on Albemarle Corporation. Company shares were Reiterated by Deutsche Bank on Apr 1, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $62 .Seaport Global Securities Downgraded Albemarle Corporation on Mar 10, 2016 to ” Neutral”, Price Target of the shares are set at $59.

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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