1,639 Shares in Albemarle Corporation (ALB) Purchased by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. acquired a new stake in shares of Albemarle Corporation (NYSE:ALB) during the third quarter, according to its most recent filing with the SEC. The fund acquired 1,639 shares of the specialty chemicals company’s stock, valued at approximately $223,000.
Other large investors also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its stake in shares of Albemarle Corporation 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 period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Albemarle Corporation 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 period. Carroll Financial Associates Inc. raised its stake in shares of Albemarle Corporation by 0.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after purchasing an additional 3 shares during the period. Highlander Capital Management LLC bought a new stake in shares of Albemarle Corporation during the 2nd quarter valued at $106,000. Finally, Smithfield Trust Co. raised its stake in shares of Albemarle Corporation 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 period. Institutional investors own 87.10% of the company’s stock.
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A number of analysts recently issued reports on ALB shares. BidaskClub lowered Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Loop Capital started coverage on Albemarle Corporation in a research note on Thursday, September 28th. They set a “buy” rating and a $150.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $149.00 price objective on shares of Albemarle Corporation in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and set a $125.00 price objective on shares of Albemarle Corporation in a research note on Sunday, September 3rd. Finally, Nomura upped their target price on Albemarle Corporation from $146.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $128.45.
Albemarle Corporation (NYSE:ALB) opened at $136.48 on Tuesday. Albemarle Corporation has a fifty-two week low of $82.58 and a fifty-two week high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $14,960.00, a PE ratio of 33.72, a PEG ratio of 2.07 and a beta of 1.72.
Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. research analysts anticipate that Albemarle Corporation 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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle Corporation’s payout ratio is currently 45.71%.
In other news, EVP Matthew Juneau sold 5,397 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the completion of the transaction, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.
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.
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