Leavell Investment Management Inc. increased its holdings in Albemarle Co. (NYSE:ALB) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,666 shares of the specialty chemicals company’s stock after buying an additional 232 shares during the quarter. Leavell Investment Management Inc.’s holdings in Albemarle were worth $2,301,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. NEXT Financial Group Inc acquired a new position in Albemarle in the 3rd quarter worth approximately $25,000. Asset Dedication LLC acquired a new position in Albemarle in the 3rd quarter worth approximately $27,000. CWM LLC increased its holdings in Albemarle by 300.0% in the 3rd quarter. CWM LLC now owns 464 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 348 shares during the period. Ellevest Inc. increased its holdings in Albemarle by 133.2% in the 2nd quarter. Ellevest Inc. now owns 492 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 281 shares during the period. Finally, Harbor Investment Advisory LLC increased its holdings in Albemarle by 102.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 598 shares of the specialty chemicals company’s stock worth $53,000 after buying an additional 302 shares during the period. Institutional investors own 89.77% of the company’s stock.
In other news, Director Luther C. Iv Kissam sold 150,001 shares of Albemarle stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $90.71, for a total transaction of $13,606,590.71. Following the transaction, the director now owns 225,812 shares in the company, valued at approximately $20,483,406.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Luther C. Iv Kissam sold 59,000 shares of Albemarle stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $100.03, for a total value of $5,901,770.00. Following the transaction, the director now owns 243,065 shares in the company, valued at approximately $24,313,791.95. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.
Shares of ALB stock opened at $90.78 on Thursday. The stock’s fifty day moving average is $93.29 and its two-hundred day moving average is $81.42. 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 has a market capitalization of $9.66 billion, a P/E ratio of 22.03, a PEG ratio of 3.20 and a beta of 1.40. Albemarle Co. has a fifty-two week low of $48.89 and a fifty-two week high of $101.00.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The company had revenue of $764.05 million for the quarter, compared to analyst estimates of $704.31 million. Albemarle had a return on equity of 13.33% and a net margin of 12.99%. On average, equities analysts forecast that Albemarle Co. will post 3.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 1.70%. Albemarle’s payout ratio is currently 25.50%.
ALB has been the topic of several research reports. Truist increased their price target on shares of Albemarle from $87.00 to $95.00 in a report on Monday, October 19th. Citigroup raised their price objective on shares of Albemarle from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. ValuEngine raised shares of Albemarle from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Evercore ISI started coverage on shares of Albemarle in a research note on Tuesday, September 22nd. They set an “underperform” rating and a $86.00 price objective on the stock. Finally, Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $98.00 in a research note on Tuesday, September 29th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $84.48.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. The company operates in three segments: Lithium, Bromine Specialties, and Catalysts. The 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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