Anchor Bolt Capital Lp buys $82,953,636 stake in Albemarle Corporation (ALB)

Albemarle Corporation (ALB) : Anchor Bolt Capital Lp scooped up 383,564 additional shares in Albemarle Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 999,321 shares of Albemarle Corporation which is valued at $82,953,636.Albemarle Corporation makes up approximately 2.73% of Anchor Bolt Capital Lp’s portfolio.

Other Hedge Funds, Including , Weiss Multi-strategy Advisers sold out all of its stake in ALB during the most recent quarter. The investment firm sold 71,654 shares of ALB which is valued $5,947,999.Tiaa Cref Investment Management reduced its stake in ALB by selling 1,157,307 shares or 34.69% in the most recent quarter. The Hedge Fund company now holds 2,178,547 shares of ALB which is valued at $180,841,186. Albemarle Corporation makes up approx 0.13% of Tiaa Cref Investment Management’s portfolio.Zwj Investment Counsel Inc reduced its stake in ALB by selling 67,435 shares or 38.52% in the most recent quarter. The Hedge Fund company now holds 107,633 shares of ALB which is valued at $8,888,333. Albemarle Corporation makes up approx 0.89% of Zwj Investment Counsel Inc’s portfolio.Great West Life Assurance Co Can boosted its stake in ALB in the latest quarter, The investment management firm added 53,175 additional shares and now holds a total of 83,177 shares of Albemarle Corporation which is valued at $6,986,036. Albemarle Corporation makes up approx 0.02% of Great West Life Assurance Co Can’s portfolio.Genesee Valley Trust Co boosted its stake in ALB in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 3,322 shares of Albemarle Corporation which is valued at $281,772. Albemarle Corporation makes up approx 0.18% of Genesee Valley Trust Co’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.

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