Vectors Research Management LLC cut its position in shares of Albemarle Co. (NYSE:ALB – Get Rating) by 1.4% during the second quarter, HoldingsChannel.com reports. The firm owned 17,159 shares of the specialty chemicals company’s stock after selling 250 shares during the period. Albemarle accounts for about 0.9% of Vectors Research Management LLC’s investment portfolio, making the stock its 26th largest holding. Vectors Research Management LLC’s holdings in Albemarle were worth $3,586,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of ALB. 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 valued at $29,000 after buying an additional 44 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in Albemarle in the 1st quarter valued at $35,000. Riverview Trust Co boosted its stake in Albemarle by 92.3% in the 2nd quarter. Riverview Trust Co now owns 175 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 84 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Albemarle in the 2nd quarter valued at $39,000. Finally, MCF Advisors LLC acquired a new stake in Albemarle in the 1st quarter valued at $45,000. 81.80% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Albemarle news, insider Eric Norris sold 2,390 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $307.80, for a total value of $735,642.00. Following the completion of the sale, the insider now directly owns 15,564 shares in the company, valued at $4,790,599.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Albemarle news, EVP Karen G. Narwold sold 2,250 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $285.66, for a total value of $642,735.00. Following the completion of the sale, the executive vice president now directly owns 11,444 shares in the company, valued at $3,269,093.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Norris sold 2,390 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $307.80, for a total value of $735,642.00. Following the completion of the sale, the insider now owns 15,564 shares of the company’s stock, valued at $4,790,599.20. The disclosure for this sale can be found here. Insiders sold 15,962 shares of company stock worth $4,911,107 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Albemarle Trading Up 0.3 %
NYSE ALB traded up $0.81 on Thursday, reaching $283.90. The company had a trading volume of 994,506 shares, compared to its average volume of 1,546,800. The stock’s 50 day moving average is $278.33 and its 200-day moving average is $254.57. The stock has a market cap of $33.26 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 0.84 and a beta of 1.41. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Albemarle Co. has a 52 week low of $169.93 and a 52 week high of $334.55.
Albemarle (NYSE:ALB – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The specialty chemicals company reported $7.50 EPS for the quarter, beating analysts’ consensus estimates of $6.99 by $0.51. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.21 billion. Albemarle had a return on equity of 26.84% and a net margin of 27.77%. The firm’s revenue was up 151.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 earnings per share. Equities analysts predict that Albemarle Co. will post 20.99 earnings per share for the current year.
Albemarle Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be issued a $0.395 dividend. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $1.58 annualized dividend and a dividend yield of 0.56%. Albemarle’s dividend payout ratio (DPR) is currently 11.98%.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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