Janus Henderson Group PLC lowered its position in Albemarle Co. (NYSE:ALB) by 60.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 182,765 shares of the specialty chemicals company’s stock after selling 280,316 shares during the period. Janus Henderson Group PLC’s holdings in Albemarle were worth $18,237,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ALB. Jennison Associates LLC boosted its holdings in Albemarle by 7.7% in the 3rd quarter. Jennison Associates LLC now owns 7,896,101 shares of the specialty chemicals company’s stock worth $787,873,000 after buying an additional 565,127 shares during the period. Advisors Asset Management Inc. boosted its holdings in Albemarle by 1,502.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 321,137 shares of the specialty chemicals company’s stock worth $2,289,000 after buying an additional 301,100 shares during the period. Rovida Advisors Inc. bought a new position in Albemarle in the 2nd quarter worth $21,743,000. Sei Investments Co. boosted its holdings in Albemarle by 12,715.3% in the 2nd quarter. Sei Investments Co. now owns 193,511 shares of the specialty chemicals company’s stock worth $18,254,000 after buying an additional 192,001 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Albemarle by 120.2% in the 3rd quarter. SG Americas Securities LLC now owns 29,402 shares of the specialty chemicals company’s stock worth $2,934,000 after buying an additional 174,888 shares during the period. 92.73% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a report on Thursday. HSBC assumed coverage on shares of Albemarle in a report on Monday, December 3rd. They issued a “hold” rating and a $112.50 target price for the company. ValuEngine downgraded shares of Albemarle from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Buckingham Research assumed coverage on shares of Albemarle in a report on Thursday, November 15th. They issued a “neutral” rating and a $106.00 target price for the company. Finally, Berenberg Bank set a $130.00 target price on shares of Albemarle and gave the stock a “buy” rating in a report on Friday, November 9th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $122.43.
In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $96.54, for a total value of $299,274.00. Following the sale, the executive vice president now owns 27,142 shares in the company, valued at approximately $2,620,288.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.
Shares of ALB stock opened at $88.65 on Friday. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.03 and a beta of 1.52. Albemarle Co. has a 52 week low of $86.75 and a 52 week high of $138.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.83.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $796.79 million. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. As a group, equities analysts expect that Albemarle Co. will post 5.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 13th. Albemarle’s payout ratio is currently 29.19%.
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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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