Robeco Institutional Asset Management B.V. reduced its stake in shares of Albemarle Co. (NYSE:ALB – Get Rating) by 12.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 51,571 shares of the specialty chemicals company’s stock after selling 7,137 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Albemarle were worth $13,635,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. SJS Investment Consulting Inc. bought a new stake in shares of Albemarle during the third quarter worth $28,000. Covestor Ltd boosted its stake in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Itau Unibanco Holding S.A. bought a new position in Albemarle during the 3rd quarter worth about $37,000. CoreCap Advisors LLC acquired a new stake in shares of Albemarle in the 2nd quarter valued at about $39,000. Finally, Trustcore Financial Services LLC lifted its holdings in shares of Albemarle by 49.0% in the third quarter. Trustcore Financial Services LLC now owns 149 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.
Insider Transactions at Albemarle
In related news, CFO Scott Tozier sold 1,719 shares of the business’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $220.00, for a total value of $378,180.00. Following the completion of the sale, the chief financial officer now directly owns 63,384 shares in the company, valued at approximately $13,944,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 7,836 shares of company stock worth $1,917,699. Company insiders own 0.25% of the company’s stock.
Albemarle Trading Down 2.9 %
Albemarle (NYSE:ALB – Get Rating) last announced its earnings results on Thursday, February 16th. The specialty chemicals company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.46 by $0.16. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.60 billion. Albemarle had a net margin of 36.75% and a return on equity of 37.63%. Albemarle’s revenue was up 193.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. Equities analysts anticipate that Albemarle Co. will post 30.2 EPS for the current year.
Albemarle Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, March 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Albemarle’s previous quarterly dividend of $0.40. Albemarle’s dividend payout ratio (DPR) is 6.92%.
Analyst Ratings Changes
A number of research firms recently issued reports on ALB. Royal Bank of Canada increased their price objective on Albemarle from $340.00 to $362.00 in a report on Wednesday, January 25th. Piper Jaffray Companies initiated coverage on shares of Albemarle in a report on Thursday, January 26th. They issued an “overweight” rating on the stock. BMO Capital Markets boosted their price objective on shares of Albemarle from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $240.00 target price on shares of Albemarle in a research report on Thursday, February 16th. Finally, Piper Sandler boosted their price target on shares of Albemarle from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Albemarle presently has an average rating of “Hold” and an average price target of $308.00.
Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following business segments: Lithium, Bromine, Catalysts, and All Other.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
- Europe Raises Interest Rates, Should the Fed Follow?
Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB – Get Rating).
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.