Albemarle Co. (ALB) Holdings Trimmed by Renaissance Technologies LLC
Renaissance Technologies LLC trimmed its position in Albemarle Co. (NYSE:ALB) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 506,808 shares of the specialty chemicals company’s stock after selling 61,500 shares during the quarter. Renaissance Technologies LLC owned about 0.47% of Albemarle worth $47,807,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Credit Agricole S A acquired a new position in Albemarle in the 2nd quarter valued at about $123,000. Dupont Capital Management Corp raised its stake in shares of Albemarle by 81.6% in the 1st quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock valued at $126,000 after acquiring an additional 610 shares during the period. Point72 Asia Hong Kong Ltd raised its stake in shares of Albemarle by 145.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,669 shares of the specialty chemicals company’s stock valued at $155,000 after acquiring an additional 989 shares during the period. SeaCrest Wealth Management LLC raised 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 acquiring an additional 1,004 shares during the period. Finally, Tiverton Asset Management LLC raised its stake in shares of Albemarle by 53.5% in the 1st quarter. Tiverton Asset Management LLC now owns 1,997 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 696 shares during the period. Institutional investors own 90.49% of the company’s stock.
In related news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total transaction of $301,041.00. Following the sale, the executive vice president now directly owns 30,242 shares of the company’s stock, valued at approximately $2,936,800.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by corporate insiders.
Shares of ALB opened at $100.61 on Friday. Albemarle Co. has a fifty-two week low of $86.75 and a fifty-two week high of $144.99. The company has a market cap of $10.79 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.30 and a beta of 1.69. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37.
Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. The firm had revenue of $853.87 million for the quarter, compared to the consensus estimate of $799.49 million. research analysts forecast that Albemarle Co. will post 5.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, September 13th. Albemarle’s payout ratio is currently 29.19%.
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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