CENTRAL TRUST Co reduced its position in shares of Albemarle Corporation (NYSE:ALB) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,998 shares of the specialty chemicals company’s stock after selling 7 shares during the period. CENTRAL TRUST Co’s holdings in Albemarle Corporation were worth $421,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in Albemarle Corporation by 7.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,940 shares of the specialty chemicals company’s stock valued at $339,000 after buying an additional 260 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Albemarle Corporation during the fourth quarter valued at about $703,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Albemarle Corporation during the fourth quarter valued at about $314,000. Chevy Chase Trust Holdings Inc. raised its stake in Albemarle Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 97,039 shares of the specialty chemicals company’s stock valued at $10,251,000 after buying an additional 2,995 shares in the last quarter. Finally, Rathbone Brothers plc raised its stake in Albemarle Corporation by 40.5% in the first quarter. Rathbone Brothers plc now owns 6,690 shares of the specialty chemicals company’s stock valued at $707,000 after buying an additional 1,930 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors.
Shares of Albemarle Corporation (ALB) traded down 1.43% during midday trading on Friday, reaching $109.36. The company had a trading volume of 2,138,029 shares. The firm has a market cap of $12.08 billion, a P/E ratio of 13.99 and a beta of 1.59. The company’s 50-day moving average is $113.60 and its 200-day moving average is $106.64. Albemarle Corporation has a 52-week low of $75.11 and a 52-week high of $123.48.
Albemarle Corporation (NYSE:ALB) last posted its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. During the same period in the previous year, the firm earned $0.93 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Equities research analysts expect that Albemarle Corporation will post $4.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.17%. Albemarle Corporation’s payout ratio is 16.41%.
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Several equities research analysts recently issued reports on the company. BidaskClub lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $136.00 target price on shares of Albemarle Corporation in a research report on Friday, July 14th. Robert W. Baird reaffirmed an “outperform” rating and issued a $135.00 target price (up from $125.00) on shares of Albemarle Corporation in a research report on Tuesday, July 18th. They noted that the move was a valuation call. Zacks Investment Research lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. lowered Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Albemarle Corporation presently has a consensus rating of “Buy” and an average target price of $106.69.
In other Albemarle Corporation news, Chairman Luther C. Iv Kissam sold 50,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.08, for a total value of $5,504,000.00. Following the completion of the transaction, the chairman now directly owns 252,917 shares of the company’s stock, valued at $27,841,103.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott Tozier sold 25,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.13, for a total value of $2,753,250.00. Following the completion of the transaction, the chief financial officer now directly owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,000 shares of company stock valued at $11,499,850. Insiders own 0.74% of the company’s stock.
Albemarle Corporation Company 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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