Great West Life Assurance Co. Can cut its holdings in Albemarle Co. (NYSE:ALB) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 84,368 shares of the specialty chemicals company’s stock after selling 8,830 shares during the period. Great West Life Assurance Co. Can’s holdings in Albemarle were worth $8,424,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Credit Agricole S A acquired a new position in shares of Albemarle in the 2nd quarter valued at about $123,000. SeaCrest Wealth Management LLC boosted its stake in Albemarle by 145.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after purchasing an additional 1,004 shares during the period. Valeo Financial Advisors LLC boosted its stake in Albemarle by 17,210.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock valued at $171,000 after purchasing an additional 1,721 shares during the period. Palladium Partners LLC acquired a new position in Albemarle during the 3rd quarter valued at about $205,000. Finally, GSA Capital Partners LLP acquired a new position in Albemarle during the 2nd quarter valued at about $212,000. 92.73% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Thursday. HSBC assumed coverage on shares of Albemarle in a research note on Monday, December 3rd. They set a “hold” rating and a $112.50 target price for the company. ValuEngine lowered shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Buckingham Research assumed coverage on shares of Albemarle in a research note on Thursday, November 15th. They set a “neutral” rating and a $106.00 target price for the company. Finally, Berenberg Bank set a $130.00 target price on shares of Albemarle and gave the company a “buy” rating in a research note on Friday, November 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $122.43.
In other news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $96.54, for a total value of $299,274.00. Following the completion of the sale, the executive vice president now directly owns 27,142 shares of the company’s stock, valued at approximately $2,620,288.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
Shares of NYSE:ALB opened at $88.65 on Friday. The company has a market capitalization of $9.68 billion, a PE ratio of 17.17, a P/E/G ratio of 1.03 and a beta of 1.52. Albemarle Co. has a twelve month low of $86.75 and a twelve month high of $138.67. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.38.
Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $796.79 million. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. Equities analysts forecast that Albemarle Co. will post 5.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 13th. Albemarle’s dividend payout ratio is currently 29.19%.
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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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