Albemarle Corporation (ALB) : Point72 Asia (singapore) Pte. Ltd. has sold out all of its stake in Albemarle Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 750,000 shares of Albemarle Corporation which is valued at $62,257,500.
Other Hedge Funds, Including , 361 Capital added ALB to its portfolio by purchasing 979 company shares during the most recent quarter which is valued at $81,267. Albemarle Corporation makes up approx 1.18% of 361 Capital’s portfolio.Employees Retirement System Of Texas reduced its stake in ALB by selling 76,000 shares or 86.36% in the most recent quarter. The Hedge Fund company now holds 12,000 shares of ALB which is valued at $996,120. Albemarle Corporation makes up approx 0.01% of Employees Retirement System Of Texas’s portfolio.Channing Capital Management boosted its stake in ALB in the latest quarter, The investment management firm added 287 additional shares and now holds a total of 35,381 shares of Albemarle Corporation which is valued at $2,971,650. Albemarle Corporation makes up approx 0.12% of Channing Capital Management’s portfolio.Ibm Retirement Fund boosted its stake in ALB in the latest quarter, The investment management firm added 2,001 additional shares and now holds a total of 13,266 shares of Albemarle Corporation which is valued at $1,127,743. Albemarle Corporation makes up approx 0.04% of Ibm Retirement Fund’s portfolio.Eagle Boston Investment Management Inc reduced its stake in ALB by selling 1,536 shares or 9.56% in the most recent quarter. The Hedge Fund company now holds 14,531 shares of ALB which is valued at $1,258,675. Albemarle Corporation makes up approx 0.16% of Eagle Boston Investment Management Inc’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.