Taylor Hoffman Wealth Management increased its position in shares of Albemarle Co. (NYSE:ALB) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 22,465 shares of the specialty chemicals company’s stock after buying an additional 1,001 shares during the period. Albemarle comprises 1.1% of Taylor Hoffman Wealth Management’s portfolio, making the stock its 25th biggest holding. Taylor Hoffman Wealth Management’s holdings in Albemarle were worth $1,562,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. grew its position in Albemarle by 0.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,692 shares of the specialty chemicals company’s stock worth $14,484,000 after acquiring an additional 460 shares during the last quarter. Bangor Savings Bank increased its holdings in Albemarle by 4.1% during the 2nd quarter. Bangor Savings Bank now owns 9,822 shares of the specialty chemicals company’s stock worth $692,000 after purchasing an additional 386 shares in the last quarter. KAMES CAPITAL plc increased its holdings in Albemarle by 13.8% during the 2nd quarter. KAMES CAPITAL plc now owns 543,705 shares of the specialty chemicals company’s stock worth $38,271,000 after purchasing an additional 65,865 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Albemarle by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 49,415 shares of the specialty chemicals company’s stock worth $3,479,000 after purchasing an additional 171 shares in the last quarter. Finally, SPX Equities Gestao de Recursos Ltda bought a new stake in Albemarle during the 2nd quarter worth approximately $2,816,000. Institutional investors and hedge funds own 90.51% of the company’s stock.
In other news, insider Eric Norris acquired 3,090 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average price of $64.66 per share, for a total transaction of $199,799.40. Following the completion of the purchase, the insider now owns 164 shares in the company, valued at $10,604.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Luther C. Iv Kissam sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.00, for a total value of $2,520,000.00. Following the completion of the transaction, the chief executive officer now owns 334,046 shares in the company, valued at approximately $23,383,220. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
Shares of ALB stock traded down $3.41 during trading on Friday, hitting $67.98. The company’s stock had a trading volume of 3,387,165 shares, compared to its average volume of 1,513,135. The company has a market cap of $7.14 billion, a PE ratio of 12.41, a P/E/G ratio of 1.09 and a beta of 1.63. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $66.80 and a 200-day moving average of $68.65. Albemarle Co. has a 52 week low of $58.63 and a 52 week high of $104.50.
Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 6th. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The business had revenue of $879.70 million for the quarter, compared to the consensus estimate of $883.67 million. During the same quarter in the prior year, the business earned $1.31 earnings per share. Albemarle’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts predict that Albemarle Co. will post 6.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.368 dividend. This is an increase from Albemarle’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, December 12th. This represents a $1.47 annualized dividend and a yield of 2.17%. Albemarle’s dividend payout ratio is presently 26.82%.
A number of brokerages have commented on ALB. Bank of America lowered Albemarle from a “buy” rating to an “underperform” rating in a report on Monday, October 28th. Oppenheimer decreased their price objective on Albemarle from $157.00 to $128.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Wells Fargo & Co decreased their price objective on Albemarle from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 25th. Berenberg Bank set a $75.00 price objective on Albemarle and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered Albemarle from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $85.65.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, 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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