American Century Companies Inc. lessened its stake in Asbestos Co. Ltd. (NYSE:AB) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Asbestos Co. by 12.6% during the 1st quarter. JPMorgan Chase & Co. now owns 44,807 shares of the company’s stock worth $1,023,000 after purchasing an additional 5,025 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Asbestos Co. by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 174,000 shares of the company’s stock worth $3,976,000 after purchasing an additional 2,600 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Asbestos Co. by 753.4% during the 1st quarter. Renaissance Technologies LLC now owns 219,325 shares of the company’s stock worth $5,012,000 after purchasing an additional 193,625 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Asbestos Co. by 9,523.4% during the 2nd quarter. Bank of Montreal Can now owns 444,600 shares of the company’s stock worth $10,514,000 after purchasing an additional 439,980 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Asbestos Co. by 20.7% during the 2nd quarter. Creative Planning now owns 21,915 shares of the company’s stock worth $518,000 after purchasing an additional 3,753 shares during the last quarter.

In related news, Director Weston M. Hicks sold 15,627 shares of Asbestos Co. stock in a transaction on Monday, September 18th. The shares were sold at an average price of C$24.40, for a total value of C$381,298.80. Following the completion of the sale, the director now owns 10,842 shares in the company, valued at C$264,544.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Axa America Holdings, Inc. purchased 1,071,180 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was bought at an average price of C$22.90 per share, with a total value of C$24,530,022.00. The disclosure for this purchase can be found here. Insiders have sold 396,070 shares of company stock worth $9,467,892 in the last quarter.

A number of research analysts have weighed in on AB shares. Zacks Investment Research raised shares of Asbestos Co. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday, August 24th. Citigroup Inc. raised shares of Asbestos Co. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $26.00 to $31.00 in a research report on Thursday, October 26th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of C$27.60.

Shares of Asbestos Co. Ltd. (AB) opened at C$25.05 on Friday. Asbestos Co. Ltd. has a 12 month low of C$20.40 and a 12 month high of C$26.65.

Asbestos Co. (NYSE:AB) last posted its quarterly earnings data on Wednesday, October 25th. The company reported C$0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.52 by C($0.01). The firm had revenue of C$812.15 million for the quarter, compared to analysts’ expectations of C$786.74 million. Asbestos Co. had a net margin of 87.06% and a return on equity of 11.35%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, November 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.14%. This is a positive change from Asbestos Co.’s previous quarterly dividend of $0.49.

ILLEGAL ACTIVITY WARNING: “Asbestos Co. Ltd. (AB) Stake Lowered by American Century Companies Inc.” was reported by Watch List News and is the property of of Watch List News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.watchlistnews.com/asbestos-co-ltd-ab-stake-lowered-by-american-century-companies-inc/1697856.html.

Asbestos Co. 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.

Want to see what other hedge funds are holding AB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Asbestos Co. Ltd. (NYSE:AB).

Institutional Ownership by Quarter for Asbestos Co. (NYSE:AB)

Receive News & Ratings for Asbestos Co. Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbestos Co. Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.