Cubist Systematic Strategies LLC Acquires 28,303 Shares of Albemarle Co. (NYSE:ALB)

Cubist Systematic Strategies LLC increased its holdings in shares of Albemarle Co. (NYSE:ALB) by 379.5% during the second quarter, Holdings Channel.com reports. The firm owned 35,761 shares of the specialty chemicals company’s stock after buying an additional 28,303 shares during the period. Cubist Systematic Strategies LLC’s holdings in Albemarle were worth $2,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new position in shares of Albemarle during the first quarter valued at approximately $1,788,000. Exane Derivatives lifted its position in Albemarle by 199.0% during the second quarter. Exane Derivatives now owns 2,434 shares of the specialty chemicals company’s stock valued at $188,000 after acquiring an additional 1,620 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Albemarle by 317.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 88,024 shares of the specialty chemicals company’s stock valued at $4,962,000 after acquiring an additional 66,950 shares during the last quarter. Swiss National Bank lifted its position in Albemarle by 23.2% during the first quarter. Swiss National Bank now owns 411,607 shares of the specialty chemicals company’s stock valued at $23,202,000 after acquiring an additional 77,400 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Albemarle by 8.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 16,940 shares of the specialty chemicals company’s stock valued at $1,308,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

ALB stock opened at $98.39 on Wednesday. The firm has a market cap of $10.44 billion, a PE ratio of 23.88, a P/E/G ratio of 3.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.61. The firm’s fifty day moving average is $90.45 and its 200 day moving average is $75.73. Albemarle Co. has a one year low of $48.89 and a one year high of $100.31.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.14. Albemarle had a net margin of 12.99% and a return on equity of 13.33%. Research analysts predict that Albemarle Co. will post 3.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 18th will be given a $0.385 dividend. The ex-dividend date is Thursday, September 17th. This represents a $1.54 annualized dividend and a dividend yield of 1.57%. Albemarle’s dividend payout ratio (DPR) is 25.50%.

A number of equities research analysts recently commented on ALB shares. Royal Bank of Canada increased their target price on shares of Albemarle from $70.00 to $80.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Deutsche Bank increased their target price on shares of Albemarle from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Berenberg Bank cut shares of Albemarle from a “hold” rating to a “sell” rating and increased their target price for the company from $65.00 to $68.00 in a research report on Monday, July 27th. ValuEngine raised shares of Albemarle from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Zacks Investment Research raised shares of Albemarle from a “sell” rating to a “hold” rating and set a $102.00 price target for the company in a report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Albemarle presently has a consensus rating of “Hold” and a consensus price target of $78.91.

In other news, Director Luther C. Iv Kissam sold 150,001 shares of Albemarle stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $90.71, for a total value of $13,606,590.71. Following the sale, the director now owns 225,812 shares in the company, valued at $20,483,406.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Luther C. Iv Kissam sold 59,000 shares of Albemarle stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $100.03, for a total transaction of $5,901,770.00. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

Albemarle 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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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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