FMR LLC decreased its holdings in shares of Albemarle Co. (NYSE:ALB) by 44.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,513 shares of the specialty chemicals company’s stock after selling 29,247 shares during the quarter. FMR LLC’s holdings in Albemarle were worth $2,814,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Albemarle by 0.4% in the 4th quarter. BlackRock Inc. now owns 7,445,317 shares of the specialty chemicals company’s stock worth $573,810,000 after purchasing an additional 26,145 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Albemarle by 0.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,636,011 shares of the specialty chemicals company’s stock worth $203,158,000 after purchasing an additional 13,487 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Albemarle by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,358,277 shares of the specialty chemicals company’s stock worth $104,495,000 after purchasing an additional 67,439 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Albemarle by 29.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,345,000 shares of the specialty chemicals company’s stock worth $103,659,000 after purchasing an additional 305,829 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Albemarle by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,626 shares of the specialty chemicals company’s stock worth $93,921,000 after purchasing an additional 116,753 shares during the last quarter. Institutional investors and hedge funds own 94.20% of the company’s stock.
Several equities research analysts have recently weighed in on ALB shares. Citigroup downgraded shares of Albemarle from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $90.00 to $81.00 in a research report on Tuesday, February 5th. ValuEngine downgraded shares of Albemarle from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Loop Capital boosted their price objective on shares of Albemarle from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. Deutsche Bank boosted their price objective on shares of Albemarle from $84.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, February 25th. Finally, reaffirmed a “buy” rating and set a $157.00 price objective on shares of Albemarle in a research report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $98.98.
In other Albemarle news, CFO Scott Tozier sold 2,961 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $91.00, for a total transaction of $269,451.00. Following the completion of the transaction, the chief financial officer now directly owns 49,672 shares of the company’s stock, valued at approximately $4,520,152. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deeanne J. Marlow bought 1,000 shares of Albemarle stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $70.85 per share, with a total value of $70,850.00. Following the completion of the purchase, the senior vice president now directly owns 1,000 shares in the company, valued at $70,850. The disclosure for this purchase can be found here. Insiders own 1.02% of the company’s stock.
Albemarle stock traded down $0.54 during midday trading on Wednesday, reaching $67.96. 728,454 shares of the stock traded hands, compared to its average volume of 1,509,620. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.71 and a beta of 1.56. Albemarle Co. has a fifty-two week low of $67.06 and a fifty-two week high of $108.74.
Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $832.06 million during the quarter, compared to analyst estimates of $827.94 million. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. Albemarle’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. Research analysts expect that Albemarle Co. will post 6.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, June 13th. Albemarle’s payout ratio is 26.82%.
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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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