Swiss National Bank decreased its holdings in Albemarle Corporation (NYSE:ALB) by 0.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 409,606 shares of the specialty chemicals company’s stock after selling 500 shares during the period. Swiss National Bank owned approximately 370,784.83% of Albemarle Corporation worth $55,833,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its stake in shares of Albemarle Corporation by 650.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Albemarle Corporation by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 20 shares in the last quarter. Carroll Financial Associates Inc. raised its holdings in Albemarle Corporation by 0.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 3 shares during the last quarter. Highlander Capital Management LLC bought a new stake in Albemarle Corporation during the 2nd quarter valued at $106,000. Finally, Smithfield Trust Co. raised its holdings in Albemarle Corporation by 16.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares during the last quarter. 86.64% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on ALB shares. Robert W. Baird reiterated an “outperform” rating and set a $135.00 price target (up from $125.00) on shares of Albemarle Corporation in a report on Tuesday, July 18th. They noted that the move was a valuation call. BidaskClub lowered shares of Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. SunTrust Banks, Inc. lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price target for the company. in a report on Wednesday, August 9th. Finally, Vertical Research reiterated a “hold” rating and set a $109.00 price target (up from $108.00) on shares of Albemarle Corporation in a report on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $128.15.
Albemarle Corporation (NYSE:ALB) opened at $143.37 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. The stock has a market cap of $15,840.00, a PE ratio of 34.81, a P/E/G ratio of 2.14 and a beta of 1.72. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $144.99.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. Albemarle Corporation’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. analysts anticipate that Albemarle Corporation will post 4.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. Albemarle Corporation’s payout ratio is 45.71%.
In related news, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the completion of the transaction, the executive vice president now directly owns 36,620 shares in the company, valued at approximately $4,246,089. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the completion of the transaction, the executive vice president now owns 360 shares of the company’s stock, valued at $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.
Albemarle Corporation Profile
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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