American Century Companies Inc. trimmed its holdings in Asbestos Co. Ltd. (NYSE:AB) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,459,958 shares of the company’s stock after selling 58,995 shares during the quarter. American Century Companies Inc. owned 2.63% of Asbestos Co. worth $59,777,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new position in shares of Asbestos Co. in the second quarter valued at $118,000. WFG Advisors LP raised its stake in shares of Asbestos Co. by 24.2% in the second quarter. WFG Advisors LP now owns 6,311 shares of the company’s stock valued at $149,000 after purchasing an additional 1,228 shares in the last quarter. National Planning Corp raised its stake in shares of Asbestos Co. by 16.1% in the second quarter. National Planning Corp now owns 10,841 shares of the company’s stock valued at $258,000 after purchasing an additional 1,500 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Asbestos Co. by 399.3% in the second quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the company’s stock valued at $354,000 after purchasing an additional 11,980 shares in the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Asbestos Co. by 4.0% in the second quarter. Sigma Planning Corp now owns 16,827 shares of the company’s stock valued at $398,000 after purchasing an additional 647 shares in the last quarter.
In other Asbestos Co. news, CFO John C. Weisenseel sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of C$23.99, for a total transaction of C$191,920.00. Following the transaction, the chief financial officer now owns 64,869 shares of the company’s stock, valued at approximately C$1,556,207.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James A. Gingrich sold 5,659 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of C$25.00, for a total value of C$141,475.00. The disclosure for this sale can be found here. In the last three months, insiders sold 396,070 shares of company stock worth $9,467,892.
Several research firms have issued reports on AB. BidaskClub upgraded Asbestos Co. from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Credit Suisse Group reiterated a “neutral” rating on shares of Asbestos Co. in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered Asbestos Co. from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of C$27.60.
Asbestos Co. Ltd. (NYSE:AB) opened at C$25.05 on Friday. Asbestos Co. Ltd. has a 1-year low of C$20.40 and a 1-year high of C$26.65.
Asbestos Co. (NYSE:AB) last released its quarterly earnings results on Wednesday, October 25th. The company reported C$0.51 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.52 by C($0.01). The business had revenue of C$812.15 million for the quarter, compared to analyst estimates of C$786.74 million. Asbestos Co. had a return on equity of 11.35% and a net margin of 87.06%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date is Friday, November 3rd. This is a positive change from Asbestos Co.’s previous quarterly dividend of $0.49.
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Asbestos Co. Company Profile
AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.
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