Albemarle Co. (ALB) Position Trimmed by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its position in Albemarle Co. (NYSE:ALB) by 60.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 182,765 shares of the specialty chemicals company’s stock after selling 280,316 shares during the period. Janus Henderson Group PLC owned about 0.17% of Albemarle worth $18,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALB. Jennison Associates LLC raised its holdings in Albemarle by 7.7% in the 3rd quarter. Jennison Associates LLC now owns 7,896,101 shares of the specialty chemicals company’s stock worth $787,873,000 after acquiring an additional 565,127 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Albemarle by 1,502.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 321,137 shares of the specialty chemicals company’s stock worth $2,289,000 after acquiring an additional 301,100 shares during the last quarter. Rovida Advisors Inc. purchased a new position in Albemarle in the 2nd quarter worth approximately $21,743,000. Sei Investments Co. raised its holdings in Albemarle by 12,715.3% in the 2nd quarter. Sei Investments Co. now owns 193,511 shares of the specialty chemicals company’s stock worth $18,254,000 after acquiring an additional 192,001 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Albemarle by 120.2% in the 3rd quarter. SG Americas Securities LLC now owns 29,402 shares of the specialty chemicals company’s stock worth $2,934,000 after acquiring an additional 174,888 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of Albemarle stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $96.54, for a total value of $299,274.00. Following the completion of the sale, the executive vice president now owns 27,142 shares of the company’s stock, valued at approximately $2,620,288.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

NYSE:ALB opened at $88.65 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.38. Albemarle Co. has a 12 month low of $86.75 and a 12 month high of $138.67. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.03 and a beta of 1.52.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $796.79 million. During the same quarter in the previous year, the firm posted $1.08 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Albemarle Co. will post 5.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 13th. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.

A number of equities analysts recently weighed in on the stock. SunTrust Banks upgraded shares of Albemarle from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $115.00 in a report on Tuesday, September 4th. Zacks Investment Research lowered shares of Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Loop Capital set a $130.00 price objective on shares of Albemarle and gave the stock a “buy” rating in a report on Monday, October 8th. Berenberg Bank set a $130.00 price objective on shares of Albemarle and gave the stock a “buy” rating in a report on Friday, November 9th. Finally, ValuEngine lowered shares of Albemarle from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $122.43.

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Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

Further Reading: Asset Allocation and Your Retirement

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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