Great West Life Assurance Co. Can lessened its holdings in Albemarle Co. (NYSE:ALB) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,368 shares of the specialty chemicals company’s stock after selling 8,830 shares during the period. Great West Life Assurance Co. Can owned about 0.08% of Albemarle worth $8,424,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Jennison Associates LLC raised its stake in shares of Albemarle by 7.7% in the 3rd quarter. Jennison Associates LLC now owns 7,896,101 shares of the specialty chemicals company’s stock valued at $787,873,000 after acquiring an additional 565,127 shares during the period. Neuburgh Advisers LLC raised its stake in shares of Albemarle by 24.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 13,736 shares of the specialty chemicals company’s stock valued at $1,296,000 after acquiring an additional 2,720 shares during the period. Professional Advisory Services Inc. purchased a new position in shares of Albemarle in the 3rd quarter valued at $9,459,000. IFM Investors Pty Ltd raised its stake in shares of Albemarle by 15.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 6,155 shares of the specialty chemicals company’s stock valued at $614,000 after acquiring an additional 821 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of Albemarle in the 2nd quarter valued at $943,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on ALB shares. ValuEngine downgraded shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Loop Capital set a $130.00 price target on shares of Albemarle and gave the stock a “buy” rating in a research note on Monday, October 8th. SunTrust Banks raised shares of Albemarle from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $115.00 in a research note on Tuesday, September 4th. Vertical Research started coverage on shares of Albemarle in a research note on Tuesday, September 25th. They set a “sell” rating and a $85.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $122.43.
In other news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.
ALB opened at $88.65 on Friday. The stock has a market capitalization of $9.68 billion, a PE ratio of 17.17, a P/E/G ratio of 1.03 and a beta of 1.52. Albemarle Co. has a 1-year low of $86.75 and a 1-year high of $138.67. 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 (NYSE:ALB) last released its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The company had revenue of $778.00 million during the quarter, compared to the consensus estimate of $796.79 million. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, equities analysts expect that Albemarle Co. will post 5.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 13th. Albemarle’s payout ratio is currently 29.19%.
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.
Featured Story: Why is insider trading harmful?
Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB).
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.