Albemarle Co. (ALB) Position Cut by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in Albemarle Co. (NYSE:ALB) by 8.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,328 shares of the specialty chemicals company’s stock after selling 16,964 shares during the period. California State Teachers Retirement System owned 0.17% of Albemarle worth $26,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in Albemarle by 100.8% in the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock valued at $19,478,000 after buying an additional 92,650 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Albemarle during the 2nd quarter valued at about $439,000. Lord Abbett & CO. LLC bought a new position in shares of Albemarle during the 2nd quarter valued at about $11,681,000. Sumitomo Life Insurance Co. bought a new position in shares of Albemarle during the 3rd quarter valued at about $1,703,000. Finally, Vanguard Group Inc. boosted its position in shares of Albemarle by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock valued at $1,319,389,000 after purchasing an additional 213,530 shares in the last quarter. Hedge funds and other institutional investors own 88.10% of the company’s stock.

Shares of Albemarle Co. (NYSE ALB) opened at $129.57 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. Albemarle Co. has a 52 week low of $85.60 and a 52 week high of $144.99. The company has a market cap of $14,316.97, a PE ratio of 32.07, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. equities research analysts predict that Albemarle Co. will post 4.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, December 14th. Albemarle’s dividend payout ratio is presently 16.56%.

Several research firms have recently weighed in on ALB. Jefferies Group raised their price objective on shares of Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Deutsche Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Robert W. Baird restated a “hold” rating and set a $135.00 price objective on shares of Albemarle in a research report on Wednesday, November 1st. Royal Bank of Canada raised their price objective on shares of Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Nomura raised their price objective on shares of Albemarle to $159.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $128.45.

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Albemarle Company 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.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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