Toronto Dominion Bank boosted its stake in shares of Albemarle Corporation (NYSE:ALB) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,541 shares of the specialty chemicals company’s stock after buying an additional 5,976 shares during the period. Toronto Dominion Bank’s holdings in Albemarle Corporation were worth $5,935,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in Albemarle Corporation by 650.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 650 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Albemarle Corporation by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the period. Carroll Financial Associates Inc. raised its holdings in Albemarle Corporation by 0.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the period. Highlander Capital Management LLC acquired a new stake in Albemarle Corporation during the 2nd quarter worth approximately $106,000. Finally, Smithfield Trust Co. raised its holdings in Albemarle Corporation by 16.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.
In related news, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the completion of the transaction, the executive vice president now directly owns 36,620 shares of the company’s stock, valued at $4,246,089. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the transaction, the executive vice president now directly owns 360 shares of the company’s stock, valued at $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.
Albemarle Corporation (NYSE:ALB) opened at $136.21 on Friday. Albemarle Corporation has a 52 week low of $82.18 and a 52 week high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The firm has a market cap of $14,950.00, a price-to-earnings ratio of 34.07, a P/E/G ratio of 2.09 and a beta of 1.72.
Albemarle Corporation (NYSE:ALB) last released its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same period last year, the business earned $0.91 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. research analysts anticipate that Albemarle Corporation will post 4.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. Albemarle Corporation’s dividend payout ratio is presently 45.71%.
Several brokerages have commented on ALB. CIBC began coverage on shares of Albemarle Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $133.00 target price on the stock. Jefferies Group LLC restated a “buy” rating on shares of Albemarle Corporation in a report on Tuesday, October 24th. Royal Bank Of Canada raised their target price on shares of Albemarle Corporation from $149.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. SunTrust Banks, Inc. downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Albemarle Corporation has an average rating of “Buy” and an average price target of $128.45.
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Albemarle Corporation Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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