AGF Investments Inc. Has $95.84 Million Stake in Albemarle Co. (ALB)

AGF Investments Inc. cut its stake in shares of Albemarle Co. (NYSE:ALB) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 703,079 shares of the specialty chemicals company’s stock after selling 31,622 shares during the quarter. Albemarle makes up approximately 1.0% of AGF Investments Inc.’s portfolio, making the stock its 21st biggest position. AGF Investments Inc. owned 0.64% of Albemarle worth $95,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Albemarle by 1.7% during the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares during the last quarter. Jennison Associates LLC raised its position in Albemarle by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after acquiring an additional 1,375,546 shares in the last quarter. Bank of New York Mellon Corp raised its position in Albemarle by 258.1% in the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after acquiring an additional 3,287,989 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Albemarle by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after acquiring an additional 679,453 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in Albemarle by 48.7% in the second quarter. Teachers Advisors LLC now owns 1,189,424 shares of the specialty chemicals company’s stock valued at $125,532,000 after purchasing an additional 389,666 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on ALB. Vertical Research reissued a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle in a report on Thursday, August 10th. SunTrust Banks lowered Albemarle from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a research note on Wednesday, August 9th. Loop Capital began coverage on Albemarle in a research report on Thursday, September 28th. They set a “buy” rating and a $150.00 price objective for the company. CIBC began coverage on Albemarle in a research report on Thursday, August 17th. They set an “outperform” rating and a $133.00 price objective for the company. Finally, ValuEngine lowered Albemarle from a “buy” rating to a “hold” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Albemarle presently has a consensus rating of “Buy” and an average price target of $128.45.

Albemarle Co. (ALB) opened at $129.35 on Tuesday. Albemarle Co. has a 12-month low of $85.41 and a 12-month high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. The firm has a market capitalization of $14,601.99, a PE ratio of 32.71, a P/E/G ratio of 2.00 and a beta of 1.69.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. analysts forecast that Albemarle Co. will post 4.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders 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 0.99%. Albemarle’s dividend payout ratio is currently 16.56%.

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About Albemarle

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.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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