Dimensional Fund Advisors LP raised its stake in Albemarle Co. (NYSE:ALB) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,218,626 shares of the specialty chemicals company’s stock after purchasing an additional 116,753 shares during the period. Dimensional Fund Advisors LP’s holdings in Albemarle were worth $93,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ALB. Proficio Capital Partners LLC raised its position in Albemarle by 143.1% in the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. First Quadrant L P CA acquired a new stake in Albemarle in the 4th quarter valued at about $31,000. Private Capital Group LLC raised its position in Albemarle by 332.7% in the 4th quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 326 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Albemarle in the 4th quarter valued at about $69,000. Finally, Stephens Inc. AR increased its holdings in shares of Albemarle by 102.4% in the 4th quarter. Stephens Inc. AR now owns 1,662 shares of the specialty chemicals company’s stock valued at $128,000 after acquiring an additional 841 shares during the last quarter. 94.20% of the stock is currently owned by institutional investors.
ALB has been the topic of a number of recent analyst reports. Loop Capital dropped their price objective on Albemarle to $112.00 and set a “buy” rating on the stock in a report on Friday, January 18th. They noted that the move was a valuation call. Citigroup downgraded Albemarle from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $81.00 in a report on Tuesday, February 5th. ValuEngine upgraded Albemarle from a “strong sell” rating to a “sell” rating in a report on Friday, February 22nd. Deutsche Bank increased their price objective on Albemarle from $84.00 to $95.00 and gave the company a “hold” rating in a report on Monday, February 25th. Finally, reiterated a “buy” rating and issued a $157.00 price objective on shares of Albemarle in a report on Thursday, February 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $99.54.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $832.06 million for the quarter, compared to the consensus estimate of $827.94 million. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. On average, research analysts expect that Albemarle Co. will post 6.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.3675 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.47 dividend on an annualized basis and a yield of 2.17%. Albemarle’s dividend payout ratio is presently 26.82%.
In other news, SVP Deeanne J. Marlow purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the purchase, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $70,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott Tozier sold 2,961 shares of the firm’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 value of $269,451.00. Following the transaction, the chief financial officer now owns 49,672 shares in the company, valued at approximately $4,520,152. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
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Albemarle Company Profile
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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