Albemarle Co. (NYSE:ALB) Stake Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in Albemarle Co. (NYSE:ALBFree Report) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,484 shares of the specialty chemicals company’s stock after acquiring an additional 412 shares during the period. The Manufacturers Life Insurance Company’s holdings in Albemarle were worth $12,641,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. USCF Advisers LLC lifted its holdings in shares of Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 100 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of Albemarle in the fourth quarter valued at $30,000. Jones Financial Companies Lllp lifted its holdings in shares of Albemarle by 2,942.9% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 206 shares during the period. Tyler Stone Wealth Management acquired a new stake in shares of Albemarle in the third quarter valued at $35,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Albemarle by 21,400.0% in the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of ALB stock opened at $114.07 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. Albemarle Co. has a fifty-two week low of $106.69 and a fifty-two week high of $247.44. The stock’s 50-day moving average is $123.63 and its two-hundred day moving average is $125.79. The firm has a market cap of $13.41 billion, a P/E ratio of 41.48, a PEG ratio of 2.88 and a beta of 1.61.

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

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, June 14th. Albemarle’s dividend payout ratio is 58.18%.

Analysts Set New Price Targets

ALB has been the subject of several analyst reports. Loop Capital reduced their target price on Albemarle from $168.00 to $162.00 and set a “buy” rating for the company in a report on Friday, March 15th. KeyCorp reduced their target price on Albemarle from $178.00 to $159.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Wolfe Research initiated coverage on Albemarle in a report on Friday, March 1st. They set a “peer perform” rating for the company. Wells Fargo & Company upped their target price on Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Berenberg Bank raised Albemarle from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $160.00 in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.16.

Get Our Latest Stock Analysis on Albemarle

Insider Activity

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

Albemarle Company Profile

(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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