Albemarle Corporation (NYSE:ALB) CFO Sells $2,753,250.00 in Stock
Albemarle Corporation (NYSE:ALB) 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 completion of the transaction, the chief financial officer now owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Albemarle Corporation (NYSE ALB) traded up 1.45% during trading on Tuesday, reaching $112.95. 1,321,835 shares of the company traded hands. Albemarle Corporation has a 12 month low of $75.11 and a 12 month high of $116.64. The stock’s 50 day moving average price is $110.26 and its 200-day moving average price is $101.62. The stock has a market cap of $12.51 billion, a P/E ratio of 27.45 and a beta of 1.58.
Albemarle Corporation (NYSE:ALB) last released its earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.10. The firm had revenue of $722.06 million for the quarter, compared to analysts’ expectations of $678.74 million. Albemarle Corporation had a return on equity of 11.97% and a net margin of 17.02%. On average, equities research analysts expect that Albemarle Corporation will post $4.36 EPS for the current fiscal year.
The company 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. This represents a $1.28 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s payout ratio is 31.22%.
COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/07/11/albemarle-corporation-nysealb-cfo-sells-2753250-00-in-stock.html.
A number of research firms have recently issued reports on ALB. Aegis reissued a “buy” rating on shares of Albemarle Corporation in a research report on Friday. Zacks Investment Research raised shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Friday. Piper Jaffray Companies reissued an “overweight” rating and issued a $47.00 price target on shares of Albemarle Corporation in a research report on Thursday, June 29th. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of Albemarle Corporation in a research report on Thursday, June 29th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $125.00 price target on shares of Albemarle Corporation in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $103.93.
A number of large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its stake 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 valued at $154,000 after buying an additional 5 shares during the last quarter. Copper Rock Capital Partners LLC boosted its stake 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 valued at $167,000 after buying an additional 1,462 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 valued at $171,000 after buying an additional 254 shares during the last quarter. Cullinan Associates Inc. purchased a new stake in Albemarle Corporation during the first quarter valued at approximately $201,000. Finally, Conning Inc. purchased a new stake in Albemarle Corporation during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 85.75% 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.
Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.