State of Wisconsin Investment Board increased its holdings in Albemarle Corporation (NYSE:ALB) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,129 shares of the specialty chemicals company’s stock after purchasing an additional 7,620 shares during the quarter. State of Wisconsin Investment Board owned 0.09% of Albemarle Corporation worth $13,240,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Cornerstone Advisors Inc. raised its position in Albemarle Corporation by 26.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 370 shares during the period. Baillie Gifford & Co. raised its position in Albemarle Corporation by 100.8% in the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock worth $19,478,000 after purchasing an additional 92,650 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Albemarle Corporation in the 2nd quarter worth $439,000. Sumitomo Life Insurance Co. purchased a new position in Albemarle Corporation in the 3rd quarter worth $1,703,000. Finally, Vanguard Group Inc. raised its position in Albemarle Corporation by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares during the period. Institutional investors own 86.64% of the company’s stock.
Shares of Albemarle Corporation (NYSE:ALB) opened at $143.37 on Tuesday. Albemarle Corporation has a 52 week low of $76.32 and a 52 week high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. The company has a market cap of $15,840.00, a PE ratio of 34.81, a P/E/G ratio of 2.14 and a beta of 1.72.
Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. Albemarle Corporation’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. analysts expect that Albemarle Corporation will post 4.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. Albemarle Corporation’s dividend payout ratio is presently 45.71%.
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ALB has been the topic of a number of analyst reports. KeyCorp restated a “buy” rating and issued a $125.00 price objective on shares of Albemarle Corporation in a research report on Sunday, September 3rd. Zacks Investment Research cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. initiated coverage on shares of Albemarle Corporation in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $133.00 price objective on the stock. Robert W. Baird restated a “hold” rating and issued a $135.00 price objective on shares of Albemarle Corporation in a research report on Wednesday, November 1st. Finally, Instinet boosted their price objective on shares of Albemarle Corporation from $134.00 to $146.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $128.15.
In other news, EVP Karen G. Narwold sold 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the transaction, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matthew Juneau sold 5,397 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the completion of the transaction, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. Corporate 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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