Tocqueville Asset Management L.P. lessened its stake in Albemarle Co. (NYSE:ALB) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,535 shares of the specialty chemicals company’s stock after selling 6,645 shares during the quarter. Tocqueville Asset Management L.P. owned 0.06% of Albemarle worth $6,240,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Credit Agricole S A purchased a new position in shares of Albemarle in the 2nd quarter valued at about $123,000. SeaCrest Wealth Management LLC boosted its stake in shares of Albemarle by 145.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 1,004 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Albemarle by 17,210.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock valued at $171,000 after buying an additional 1,721 shares during the period. Palladium Partners LLC purchased a new position in shares of Albemarle in the 3rd quarter valued at about $205,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Albemarle in the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 92.73% of the company’s stock.
Shares of NYSE ALB opened at $88.65 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.83 and a quick ratio of 1.18. Albemarle Co. has a twelve month low of $86.75 and a twelve month high of $138.67. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.03 and a beta of 1.52.
Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. Albemarle had a return on equity of 15.39% and a net margin of 10.44%. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $796.79 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Albemarle Co. will post 5.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid 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 is currently 29.19%.
In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was 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 in the company, valued at $2,620,288.68. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.80% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. ValuEngine cut Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. HSBC assumed coverage on Albemarle in a research note on Monday, December 3rd. They set a “hold” rating and a $112.50 target price for the company. Buckingham Research assumed coverage on Albemarle in a research note on Thursday, November 15th. They set a “neutral” rating and a $106.00 target price for the company. Finally, Berenberg Bank set a $130.00 target price on Albemarle and gave the stock a “buy” rating in a research note on Friday, November 9th. Three investment 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 company has an average rating of “Buy” and an average target price of $122.43.
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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.
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