DekaBank Deutsche Girozentrale boosted its holdings in Albemarle Co. (NYSE:ALB) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,798 shares of the specialty chemicals company’s stock after purchasing an additional 508 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Albemarle were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Gratus Capital LLC increased its stake in Albemarle by 7.4% during the third quarter. Gratus Capital LLC now owns 62,622 shares of the specialty chemicals company’s stock worth $6,248,000 after acquiring an additional 4,326 shares during the last quarter. FMR LLC increased its stake in Albemarle by 402.6% during the third quarter. FMR LLC now owns 65,760 shares of the specialty chemicals company’s stock worth $6,561,000 after acquiring an additional 52,677 shares during the last quarter. American International Group Inc. increased its stake in Albemarle by 3.9% during the third quarter. American International Group Inc. now owns 41,712 shares of the specialty chemicals company’s stock worth $4,162,000 after acquiring an additional 1,580 shares during the last quarter. CI Investments Inc. increased its stake in Albemarle by 122.0% during the third quarter. CI Investments Inc. now owns 66,600 shares of the specialty chemicals company’s stock worth $6,645,000 after acquiring an additional 36,600 shares during the last quarter. Finally, Fosun International Ltd acquired a new stake in Albemarle during the third quarter worth about $848,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.
In other news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $96.54, for a total value of $299,274.00. Following the completion of the sale, the executive vice president now owns 27,142 shares of the company’s stock, valued at $2,620,288.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by corporate insiders.
Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. Albemarle had a return on equity of 15.39% and a net margin of 10.44%. The company had revenue of $778.00 million during the quarter, compared to the consensus estimate of $796.79 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that Albemarle Co. will post 5.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 13th. Albemarle’s payout ratio is 29.19%.
Several equities research analysts have commented on ALB shares. ValuEngine lowered Albemarle from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Loop Capital set a $130.00 price target on Albemarle and gave the stock a “buy” rating in a research note on Monday, October 8th. SunTrust Banks upgraded Albemarle from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $115.00 in a research note on Tuesday, September 4th. Vertical Research started coverage on Albemarle in a research note on Tuesday, September 25th. They set a “sell” rating and a $85.00 price target for the company. Finally, Zacks Investment Research lowered Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $122.43.
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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