AGF Investments Inc. Sells 31,622 Shares of Albemarle Co. (ALB)
AGF Investments Inc. decreased its stake in shares of Albemarle Co. (NYSE:ALB) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 703,079 shares of the specialty chemicals company’s stock after selling 31,622 shares during the quarter. Albemarle comprises about 1.0% of AGF Investments Inc.’s investment portfolio, making the stock its 21st biggest holding. AGF Investments Inc. owned about 0.64% of Albemarle worth $95,837,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. AGF Investments America Inc. raised its stake in Albemarle by 13.1% during the third quarter. AGF Investments America Inc. now owns 41,932 shares of the specialty chemicals company’s stock valued at $5,716,000 after buying an additional 4,864 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in shares of Albemarle in the 3rd quarter worth $1,002,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Albemarle by 330.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 52,900 shares of the specialty chemicals company’s stock worth $7,211,000 after purchasing an additional 40,600 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Albemarle in the 3rd quarter worth $409,000. Finally, Harvey Capital Management Inc. increased its holdings in shares of Albemarle by 222.1% in the 3rd quarter. Harvey Capital Management Inc. now owns 38,110 shares of the specialty chemicals company’s stock worth $5,194,000 after purchasing an additional 26,280 shares in the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.
Shares of Albemarle Co. (NYSE:ALB) opened at $137.06 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. Albemarle Co. has a fifty-two week low of $83.04 and a fifty-two week high of $144.99. The company has a market capitalization of $15,144.58, a price-to-earnings ratio of 33.93, a P/E/G ratio of 2.07 and a beta of 1.72.
Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. Albemarle’s revenue was up 15.4% compared to the same quarter last year. analysts forecast that Albemarle Co. will post 4.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, December 14th. Albemarle’s payout ratio is currently 16.56%.
ALB has been the subject of a number of research analyst reports. Loop Capital initiated coverage on Albemarle in a report on Thursday, September 28th. They issued a “buy” rating and a $150.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $149.00 target price on shares of Albemarle in a report on Wednesday, October 18th. BidaskClub lowered Albemarle from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. KeyCorp reissued a “buy” rating and issued a $125.00 target price on shares of Albemarle in a report on Sunday, September 3rd. Finally, Nomura lifted their target price on Albemarle from $146.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $128.45.
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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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