Janney Montgomery Scott LLC reduced its stake in shares of Albemarle Co. (NYSE:ALB) by 23.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,343 shares of the specialty chemicals company’s stock after selling 4,069 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Albemarle were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in Albemarle by 7.7% during the 3rd quarter. Jennison Associates LLC now owns 7,896,101 shares of the specialty chemicals company’s stock valued at $787,873,000 after buying an additional 565,127 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Albemarle by 15.4% in the third quarter. IFM Investors Pty Ltd now owns 6,155 shares of the specialty chemicals company’s stock valued at $614,000 after purchasing an additional 821 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Albemarle by 11.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 7,768 shares of the specialty chemicals company’s stock valued at $775,000 after purchasing an additional 805 shares in the last quarter. Morgan Stanley grew its holdings in shares of Albemarle by 29.4% in the third quarter. Morgan Stanley now owns 367,529 shares of the specialty chemicals company’s stock valued at $36,671,000 after purchasing an additional 83,448 shares in the last quarter. Finally, KAMES CAPITAL plc grew its holdings in shares of Albemarle by 1.2% in the fourth quarter. KAMES CAPITAL plc now owns 529,307 shares of the specialty chemicals company’s stock valued at $40,794,000 after purchasing an additional 6,073 shares in the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.
In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of Albemarle stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $96.54, for a total value of $299,274.00. Following the transaction, the executive vice president now owns 27,142 shares in the company, valued at $2,620,288.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karen G. Narwold sold 1,295 shares of Albemarle stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $74.76, for a total value of $96,814.20. Following the completion of the transaction, the executive vice president now owns 31,028 shares in the company, valued at approximately $2,319,653.28. The disclosure for this sale can be found here. Insiders sold 7,738 shares of company stock worth $645,309 in the last quarter. 0.80% of the stock is owned by insiders.
ALB stock opened at $82.81 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $8.83 billion, a P/E ratio of 18.04, a PEG ratio of 0.84 and a beta of 1.60. Albemarle Co. has a 1-year low of $71.89 and a 1-year high of $118.83.
Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.06. Albemarle had a return on equity of 15.39% and a net margin of 10.44%. The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $894.45 million. During the same period in the previous year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Albemarle Co. will post 5.43 EPS for the current fiscal year.
ALB has been the subject of a number of analyst reports. ValuEngine upgraded Albemarle from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Berenberg Bank set a $130.00 target price on Albemarle and gave the stock a “buy” rating in a research report on Friday, November 9th. Buckingham Research assumed coverage on Albemarle in a research report on Thursday, November 15th. They set a “neutral” rating and a $106.00 target price for the company. Zacks Investment Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Monday, November 19th. Finally, HSBC assumed coverage on Albemarle in a research report on Monday, December 3rd. They set a “hold” rating and a $112.50 target price for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Albemarle has a consensus rating of “Hold” and an average price target of $108.76.
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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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