Baillie Gifford & Co. boosted its position in Albemarle Corporation (NYSE:ALB) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,439 shares of the specialty chemicals company’s stock after purchasing an additional 6,884 shares during the quarter. Baillie Gifford & Co. owned about 0.17% of Albemarle Corporation worth $26,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALB. Thrivent Financial For Lutherans lifted its stake in Albemarle Corporation by 5.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 4,150 shares of the specialty chemicals company’s stock worth $438,000 after purchasing an additional 210 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Albemarle Corporation in the 1st quarter worth approximately $420,000. Nomura Asset Management Co. Ltd. lifted its stake in Albemarle Corporation by 4.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,120 shares of the specialty chemicals company’s stock worth $1,492,000 after purchasing an additional 590 shares in the last quarter. DnB Asset Management AS purchased a new stake in Albemarle Corporation in the 2nd quarter worth approximately $1,088,000. Finally, Copper Rock Capital Partners LLC lifted its stake in Albemarle Corporation by 303.3% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock worth $167,000 after purchasing an additional 1,462 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
ALB has been the topic of several research reports. KeyCorp restated a “buy” rating and set a $125.00 price objective on shares of Albemarle Corporation in a research report on Sunday, September 3rd. Zacks Investment Research cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. initiated coverage on shares of Albemarle Corporation in a research report on Wednesday, August 16th. They set an “outperform” rating and a $133.00 price objective on the stock. Instinet raised their price objective on shares of Albemarle Corporation from $134.00 to $146.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Finally, Robert W. Baird restated a “hold” rating and set a $135.00 price objective on shares of Albemarle Corporation in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $125.45.
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In related news, EVP Karen G. Narwold sold 11,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.
Albemarle Corporation (NYSE:ALB) last released its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) 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 the consensus estimate of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. Albemarle Corporation’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share.
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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