Albemarle Co. (NYSE:ALB) Shares Acquired by MUFG Securities EMEA plc

MUFG Securities EMEA plc boosted its position in shares of Albemarle Co. (NYSE:ALB) by 1,380.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,239 shares of the specialty chemicals company’s stock after purchasing an additional 35,656 shares during the period. MUFG Securities EMEA plc’s holdings in Albemarle were worth $5,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALB. Norges Bank purchased a new position in Albemarle during the 4th quarter worth approximately $377,341,000. Franklin Resources Inc. lifted its stake in shares of 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 purchasing an additional 1,667,164 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Albemarle by 55.8% in the 4th quarter. Primecap Management Co. CA now owns 3,476,674 shares of the specialty chemicals company’s stock valued at $502,310,000 after purchasing an additional 1,245,719 shares during the last quarter. Barclays PLC lifted its stake in shares of Albemarle by 142.3% in the 3rd quarter. Barclays PLC now owns 1,043,861 shares of the specialty chemicals company’s stock valued at $177,499,000 after purchasing an additional 612,963 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Albemarle by 15,046.5% in the 4th quarter. International Assets Investment Management LLC now owns 347,763 shares of the specialty chemicals company’s stock valued at $502,450,000 after purchasing an additional 345,467 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Trading Up 3.8 %

NYSE:ALB traded up $4.64 during trading hours on Friday, hitting $127.59. The stock had a trading volume of 1,445,741 shares, compared to its average volume of 2,437,929. The business’s 50 day moving average is $124.50 and its 200-day moving average is $125.98. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. Albemarle Co. has a one year low of $106.69 and a one year high of $247.44. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 46.40, a P/E/G ratio of 2.60 and a beta of 1.65.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company earned $10.32 EPS. The firm’s revenue was down 47.3% on a year-over-year basis. Sell-side analysts anticipate that Albemarle Co. will post 3.07 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, June 14th. Albemarle’s dividend payout ratio (DPR) is presently 58.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALB shares. Royal Bank of Canada reissued an “outperform” rating and set a $157.00 target price on shares of Albemarle in a research report on Friday. Vertical Research lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research report on Friday, March 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Albemarle from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Scotiabank reissued a “sector perform” rating and set a $135.00 target price (down previously from $150.00) on shares of Albemarle in a research report on Tuesday, May 21st. Finally, Oppenheimer cut their target price on shares of Albemarle from $191.00 to $188.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $165.16.

Insider Activity

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

Albemarle Profile

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.