Legal & General Group Plc lessened its holdings in Albemarle Co. (NYSE:ALB) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 514,683 shares of the specialty chemicals company’s stock after selling 21,614 shares during the quarter. Legal & General Group Plc’s holdings in Albemarle were worth $48,550,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Dupont Capital Management Corp boosted its holdings in Albemarle by 81.6% in the first quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after purchasing an additional 610 shares during the period. Point72 Asia Hong Kong Ltd boosted its holdings in Albemarle by 145.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,669 shares of the specialty chemicals company’s stock worth $155,000 after purchasing an additional 989 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in Albemarle by 145.9% in the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 1,004 shares during the period. Tiverton Asset Management LLC boosted its holdings in Albemarle by 53.5% in the first quarter. Tiverton Asset Management LLC now owns 1,997 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 696 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Albemarle in the second quarter worth $212,000. 90.63% of the stock is owned by hedge funds and other institutional investors.
ALB stock opened at $97.66 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.26 and a beta of 1.69. Albemarle Co. has a 1 year low of $86.75 and a 1 year high of $144.99.
Albemarle (NYSE:ALB) last posted its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $853.87 million for the quarter, compared to analysts’ expectations of $799.49 million. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. analysts predict that Albemarle Co. will post 5.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, September 13th. Albemarle’s payout ratio is 29.19%.
A number of equities analysts have commented on ALB shares. Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Wednesday, May 30th. Nomura decreased their price objective on shares of Albemarle to $130.00 and set a “buy” rating for the company in a report on Friday, May 11th. Goldman Sachs Group raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Tuesday, July 3rd. Bank of America started coverage on shares of Albemarle in a report on Monday, June 25th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company. Albemarle currently has an average rating of “Buy” and a consensus price target of $131.97.
In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total value of $301,041.00. Following the sale, the executive vice president now directly owns 30,242 shares in the company, valued at $2,936,800.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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