Stelliam Investment Management Lp buys $47,211,500 stake in Albemarle Corporation (ALB)

Albemarle Corporation (ALB) : Stelliam Investment Management Lp scooped up 40,000 additional shares in Albemarle Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 612,500 shares of Albemarle Corporation which is valued at $47,211,500.Albemarle Corporation makes up approximately 1.60% of Stelliam Investment Management Lp’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in ALB in the latest quarter, The investment management firm added 55,130 additional shares and now holds a total of 982,824 shares of Albemarle Corporation which is valued at $80,119,812. Albemarle Corporation makes up approx 0.04% of Geode Capital Management’s portfolio.Sg Americas Securities reduced its stake in ALB by selling 37,291 shares or 42.28% in the most recent quarter. The Hedge Fund company now holds 50,916 shares of ALB which is valued at $4,393,032. Albemarle Corporation makes up approx 0.05% of Sg Americas Securities’s portfolio. Moisand Fitzgerald Tamayo added ALB to its portfolio by purchasing 3,360 company shares during the most recent quarter which is valued at $280,493. Albemarle Corporation makes up approx 0.22% of Moisand Fitzgerald Tamayo’s portfolio.Jag Capital Management boosted its stake in ALB in the latest quarter, The investment management firm added 6,226 additional shares and now holds a total of 145,839 shares of Albemarle Corporation which is valued at $12,044,843. Albemarle Corporation makes up approx 2.40% of Jag Capital Management’s portfolio.

Albemarle Corporation closed down -0.51 points or -0.61% at $82.46 with 5,29,783 shares getting traded on Monday. Post opening the session at $82.95, the shares hit an intraday low of $82.18 and an intraday high of $83.28 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Albemarle Corporation reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.81. The company had revenue of $654.01 million for the quarter, compared to analysts expectations of $645.84 million. The company’s revenue was down -5.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.90 EPS.

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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