Grandfield & Dodd LLC lifted its position in shares of Albemarle Co. (NYSE:ALB) by 9.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,205 shares of the specialty chemicals company’s stock after buying an additional 8,420 shares during the quarter. Grandfield & Dodd LLC’s holdings in Albemarle were worth $10,098,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALB. Baillie Gifford & Co. lifted its stake in shares of Albemarle by 1,220.5% during the 2nd quarter. Baillie Gifford & Co. now owns 2,617,349 shares of the specialty chemicals company’s stock valued at $246,894,000 after buying an additional 2,419,144 shares in the last quarter. Jennison Associates LLC lifted its stake in Albemarle by 21.4% in the 2nd quarter. Jennison Associates LLC now owns 7,330,974 shares of the specialty chemicals company’s stock worth $691,531,000 after purchasing an additional 1,290,510 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Albemarle by 334.1% in the 1st quarter. Principal Financial Group Inc. now owns 741,798 shares of the specialty chemicals company’s stock worth $68,795,000 after purchasing an additional 570,899 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Albemarle by 1,502.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 321,137 shares of the specialty chemicals company’s stock worth $2,289,000 after purchasing an additional 301,100 shares in the last quarter. Finally, Rovida Advisors Inc. purchased a new stake in Albemarle in the 2nd quarter worth $21,743,000. Institutional investors own 90.99% of the company’s stock.
Several analysts have commented on the stock. Loop Capital set a $130.00 price target on shares of Albemarle and gave the stock a “buy” rating in a research note on Friday, October 19th. ValuEngine cut shares of Albemarle from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Vertical Research assumed coverage on shares of Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Vertical Group assumed coverage on shares of Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Finally, SunTrust Banks upgraded shares of Albemarle from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $115.00 in a research note on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company. Albemarle has a consensus rating of “Buy” and a consensus price target of $124.55.
In other news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total transaction of $301,041.00. Following the sale, the executive vice president now directly owns 30,242 shares in the company, valued at approximately $2,936,800.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.
Shares of NYSE ALB opened at $106.21 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.55 and a current ratio of 2.19. The stock has a market cap of $11.54 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.53. Albemarle Co. has a 12-month low of $86.75 and a 12-month high of $144.99.
Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The firm had revenue of $853.87 million for the quarter, compared to analysts’ expectations of $799.49 million. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. As a group, sell-side analysts expect that Albemarle Co. will post 5.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, December 13th. Albemarle’s dividend payout ratio is 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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