Quantamental Technologies LLC grew its stake in shares of Albemarle Co. (NYSE:ALB) by 540.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,733 shares of the specialty chemicals company’s stock after buying an additional 4,838 shares during the quarter. Quantamental Technologies LLC’s holdings in Albemarle were worth $470,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Albemarle by 0.4% during the 4th quarter. BlackRock Inc. now owns 7,445,317 shares of the specialty chemicals company’s stock valued at $573,810,000 after acquiring an additional 26,145 shares during the period. Baillie Gifford & Co. grew its position in shares of Albemarle by 0.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,636,011 shares of the specialty chemicals company’s stock valued at $203,158,000 after acquiring an additional 13,487 shares during the period. Geode Capital Management LLC lifted its stake in shares of Albemarle by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,358,277 shares of the specialty chemicals company’s stock valued at $104,495,000 after buying an additional 67,439 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Albemarle by 29.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,345,000 shares of the specialty chemicals company’s stock valued at $103,659,000 after buying an additional 305,829 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Albemarle by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,626 shares of the specialty chemicals company’s stock valued at $93,921,000 after buying an additional 116,753 shares in the last quarter. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on the stock. TheStreet cut shares of Albemarle from a “b-” rating to a “c+” rating in a research note on Monday. Jefferies Financial Group dropped their price target on shares of Albemarle from $114.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Royal Bank of Canada lowered their target price on shares of Albemarle to $100.00 and set an “outperform” rating on the stock in a research note on Friday, March 29th. KeyCorp lowered their target price on shares of Albemarle from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Loop Capital lowered their target price on shares of Albemarle to $108.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Albemarle currently has a consensus rating of “Hold” and an average target price of $98.98.
In other Albemarle news, CFO Scott Tozier sold 2,961 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $91.00, for a total value of $269,451.00. Following the completion of the transaction, the chief financial officer now directly owns 49,672 shares in the company, valued at $4,520,152. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karen G. Narwold sold 1,243 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $113,113.00. Following the completion of the transaction, the executive vice president now owns 34,757 shares of the company’s stock, valued at $3,162,887. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Shares of NYSE:ALB traded down $0.54 on Wednesday, hitting $67.96. The company had a trading volume of 728,454 shares, compared to its average volume of 1,509,620. Albemarle Co. has a 1 year low of $67.06 and a 1 year high of $108.74. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.71 and a beta of 1.56.
Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.02. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. The business had revenue of $832.06 million during the quarter, compared to analysts’ expectations of $827.94 million. During the same period in the previous year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts forecast that Albemarle Co. will post 6.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.3675 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 2.16%. Albemarle’s dividend payout ratio is presently 26.82%.
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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