Rothschild Investment Corp IL maintained its position in Albemarle Corporation (NYSE:ALB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the specialty chemicals company’s stock at the end of the second quarter. Rothschild Investment Corp IL’s holdings in Albemarle Corporation were worth $549,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its position in Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 5 shares during the period. Copper Rock Capital Partners LLC increased its position in Albemarle Corporation by 303.3% in the second quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock worth $167,000 after buying an additional 1,462 shares during the period. Van ECK Associates Corp increased its position in Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock worth $171,000 after buying an additional 254 shares during the period. Cullinan Associates Inc. bought a new position in Albemarle Corporation during the first quarter worth approximately $201,000. Finally, Conning Inc. bought a new position in Albemarle Corporation during the first quarter worth approximately $205,000. 85.39% of the stock is owned by institutional investors and hedge funds.
Shares of Albemarle Corporation (ALB) opened at 109.36 on Friday. Albemarle Corporation has a 12-month low of $75.11 and a 12-month high of $123.48. The company has a market capitalization of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59. The stock’s 50 day moving average price is $113.72 and its 200 day moving average price is $106.75.
Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.02. The company had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. Albemarle Corporation’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. On average, equities research analysts forecast that Albemarle Corporation will post $4.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.17%. Albemarle Corporation’s dividend payout ratio is 16.41%.
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A number of research analysts recently commented on the company. Morgan Stanley dropped their price target on Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, May 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $132.00 price target on shares of Albemarle Corporation in a research note on Tuesday, April 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Albemarle Corporation in a research note on Thursday, June 29th. Vertical Research reaffirmed a “hold” rating and issued a $109.00 price target (up previously from $108.00) on shares of Albemarle Corporation in a research note on Thursday. Finally, KeyCorp boosted their price target on Albemarle Corporation from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, June 12th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $106.69.
In related news, CFO Scott Tozier sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the transaction, the chief financial officer now directly owns 57,506 shares of the company’s stock, valued at approximately $6,333,135.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction that occurred on 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 in the company, valued at $27,841,103.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,000 shares of company stock worth $11,499,850. 0.74% of the stock is currently owned by insiders.
About Albemarle Corporation
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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