New York State Common Retirement Fund decreased its holdings in Albemarle Co. (NYSE:ALB) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 324,615 shares of the specialty chemicals company’s stock after selling 25,191 shares during the quarter. New York State Common Retirement Fund owned 0.29% of Albemarle worth $44,248,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Thompson Davis & CO. Inc. increased its position in shares of Albemarle by 650.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Albemarle by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 20 shares during the last quarter. Highlander Capital Management LLC purchased a new stake in shares of Albemarle during the 2nd quarter valued at about $106,000. Smithfield Trust Co. increased its position in shares of Albemarle by 16.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 140 shares during the last quarter. Finally, Howe & Rusling Inc. grew its stake in shares of Albemarle by 2,038.0% during the 3rd quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock valued at $146,000 after acquiring an additional 1,019 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on ALB shares. Jefferies Group boosted their price objective on Albemarle from $144.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $136.00 price objective on shares of Albemarle in a research note on Wednesday, September 20th. Instinet boosted their price objective on Albemarle from $134.00 to $146.00 and gave the company a “buy” rating in a research note on Monday, September 18th. KeyCorp reiterated a “buy” rating and set a $125.00 price objective on shares of Albemarle in a research note on Sunday, September 3rd. Finally, Loop Capital started coverage on Albemarle in a research note on Thursday, September 28th. They set a “buy” rating and a $150.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $128.45.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. equities analysts anticipate that Albemarle Co. will post 4.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.00%. Albemarle’s dividend payout ratio (DPR) is 16.56%.
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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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