Daiwa Securities Group Inc. lowered its position in shares of Albemarle Corporation (NYSE:ALB) by 45.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,300 shares of the specialty chemicals company’s stock after selling 4,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Albemarle Corporation were worth $559,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock worth $877,947,000 after buying an additional 8,024,668 shares during the last quarter. Vanguard Group Inc. boosted its position in Albemarle Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock valued at $1,298,083,000 after buying an additional 725,702 shares during the last quarter. Jennison Associates LLC boosted its position in Albemarle Corporation by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock valued at $602,763,000 after buying an additional 702,388 shares during the last quarter. KAMES CAPITAL plc boosted its position in Albemarle Corporation by 2,716.6% in the first quarter. KAMES CAPITAL plc now owns 322,788 shares of the specialty chemicals company’s stock valued at $34,099,000 after buying an additional 311,328 shares during the last quarter. Finally, Barings LLC purchased a new position in Albemarle Corporation during the first quarter valued at $29,862,000. 85.39% of the stock is currently owned by institutional investors and hedge funds.
Albemarle Corporation (NYSE ALB) opened at 109.36 on Friday. The company has a market cap of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59. The company has a 50-day moving average price of $113.72 and a 200-day moving average price of $106.75. Albemarle Corporation has a 1-year low of $75.11 and a 1-year high of $123.48.
Albemarle Corporation (NYSE:ALB) last posted its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The firm had revenue of $737.25 million for the quarter, compared to the consensus estimate of $735.50 million. During the same period in the previous year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts expect that Albemarle Corporation will post $4.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.17%. Albemarle Corporation’s dividend payout ratio (DPR) is presently 16.41%.
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ALB has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $132.00 price target on shares of Albemarle Corporation in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Friday, July 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Albemarle Corporation in a report on Thursday, June 29th. Nomura reaffirmed a “buy” rating and issued a $124.00 price target on shares of Albemarle Corporation in a report on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Albemarle Corporation in a report on Friday, June 16th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $106.69.
In other news, Chairman Luther C. Iv Kissam sold 50,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.08, for a total value of $5,504,000.00. Following the sale, the chairman now directly owns 252,917 shares in the company, valued at approximately $27,841,103.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott Tozier sold 25,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the completion of the sale, the chief financial officer now owns 57,506 shares in the company, valued at $6,333,135.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,000 shares of company stock worth $11,499,850. Insiders own 0.74% of the company’s stock.
Albemarle Corporation 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.
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