Albemarle Corporation (ALB) Position Reduced by Quantbot Technologies LP

Quantbot Technologies LP lowered its stake in shares of Albemarle Corporation (NYSE:ALB) by 79.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,944 shares of the specialty chemicals company’s stock after selling 11,445 shares during the period. Quantbot Technologies LP’s holdings in Albemarle Corporation were worth $311,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Monetta Financial Services Inc. bought a new stake in shares of Albemarle Corporation during the first quarter valued at approximately $1,109,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Albemarle Corporation during the first quarter valued at approximately $3,159,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Albemarle Corporation by 76.7% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 65,309 shares of the specialty chemicals company’s stock valued at $6,841,000 after buying an additional 28,348 shares during the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of Albemarle Corporation by 9.9% in the first quarter. Aberdeen Asset Management PLC UK now owns 21,108 shares of the specialty chemicals company’s stock valued at $2,230,000 after buying an additional 1,900 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Albemarle Corporation during the first quarter valued at approximately $210,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Institutional Ownership by Quarter for Albemarle Corporation (NYSE:ALB)

Albemarle Corporation (NYSE:ALB) opened at 104.85 on Friday. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 25.48 and a beta of 1.52. Albemarle Corporation has a 12 month low of $74.86 and a 12 month high of $116.64. The stock has a 50 day moving average price of $111.03 and a 200 day moving average price of $100.96.

Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings data on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.10. The firm had revenue of $722.06 million during the quarter, compared to the consensus estimate of $678.74 million. Albemarle Corporation had a net margin of 17.02% and a return on equity of 11.97%. On average, equities analysts expect that Albemarle Corporation will post $4.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.28 annualized dividend and a yield of 1.22%. Albemarle Corporation’s dividend payout ratio (DPR) is presently 31.22%.

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Several brokerages recently commented on ALB. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 target price on shares of Albemarle Corporation in a report on Friday, June 16th. KeyCorp raised their target price on Albemarle Corporation from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, June 12th. Morgan Stanley lowered their price objective on Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, May 25th. Royal Bank Of Canada raised their price objective on Albemarle Corporation from $132.00 to $136.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Finally, Nomura restated a “buy” rating and set a $124.00 price objective on shares of Albemarle Corporation in a research note on Monday, May 15th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $114.08.

In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the completion of the sale, the director now directly owns 24,150 shares in the company, valued at $2,606,751. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karen G. Narwold sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $108.16, for a total transaction of $2,163,200.00. Following the sale, the executive vice president now owns 45,120 shares of the company’s stock, valued at $4,880,179.20. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

About Albemarle Corporation

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

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