Albemarle Co. (NYSE:ALB) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp reduced its holdings in Albemarle Co. (NYSE:ALBFree Report) by 67.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,750 shares of the specialty chemicals company’s stock after selling 14,176 shares during the quarter. Alberta Investment Management Corp’s holdings in Albemarle were worth $975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in Albemarle by 47.4% in the 4th quarter. Franklin Resources Inc. now owns 5,185,734 shares of the specialty chemicals company’s stock valued at $749,235,000 after buying an additional 1,667,164 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Albemarle by 55.8% during the fourth quarter. Primecap Management Co. CA now owns 3,476,674 shares of the specialty chemicals company’s stock valued at $502,310,000 after acquiring an additional 1,245,719 shares during the last quarter. Norges Bank acquired a new stake in shares of Albemarle during the fourth quarter valued at $377,341,000. Morgan Stanley increased its position in Albemarle by 10.3% during the 3rd quarter. Morgan Stanley now owns 1,570,906 shares of the specialty chemicals company’s stock worth $267,117,000 after purchasing an additional 146,450 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Albemarle by 12.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,555,937 shares of the specialty chemicals company’s stock valued at $224,802,000 after purchasing an additional 174,391 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Price Performance

Shares of ALB stock opened at $120.89 on Tuesday. The firm has a fifty day simple moving average of $124.75 and a 200-day simple moving average of $126.16. The company has a market capitalization of $14.21 billion, a PE ratio of 43.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.65. Albemarle Co. has a twelve month low of $106.69 and a twelve month high of $247.44. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALBGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company earned $10.32 earnings per share. The business’s quarterly revenue was down 47.3% on a year-over-year basis. Equities research analysts anticipate that Albemarle Co. will post 2.49 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.32%. Albemarle’s dividend payout ratio is presently 58.18%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ALB shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Albemarle from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Mizuho raised their price objective on Albemarle from $112.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. UBS Group dropped their target price on Albemarle from $137.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, February 15th. Wells Fargo & Company increased their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $135.00 price objective (down previously from $150.00) on shares of Albemarle in a research note on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Albemarle currently has an average rating of “Hold” and an average target price of $165.16.

Get Our Latest Report on ALB

Insider Buying and Selling at Albemarle

In other news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the sale, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at $626,882.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Mark Richard Mummert sold 843 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the sale, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at $921,875.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO John Clarence Barichivich III sold 1,475 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the transaction, the chief accounting officer now directly owns 4,743 shares in the company, valued at approximately $626,882.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

About Albemarle

(Free Report)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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