Albemarle Co. (ALB) Position Raised by Schroder Investment Management Group
Schroder Investment Management Group boosted its position in Albemarle Co. (NYSE:ALB) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,587 shares of the specialty chemicals company’s stock after purchasing an additional 835 shares during the period. Schroder Investment Management Group’s holdings in Albemarle were worth $2,553,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in 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 last quarter. Bank of New York Mellon Corp boosted its position in Albemarle by 55,259.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,285,376 shares of the specialty chemicals company’s stock worth $427,596,000 after purchasing an additional 4,277,635 shares during the period. Wells Fargo & Company MN boosted its position in Albemarle by 6.9% during the 2nd quarter. Wells Fargo & Company MN now owns 861,018 shares of the specialty chemicals company’s stock worth $81,220,000 after purchasing an additional 55,732 shares during the period. SPF Beheer BV boosted its position in Albemarle by 2.2% during the 2nd quarter. SPF Beheer BV now owns 757,757 shares of the specialty chemicals company’s stock worth $71,733,000 after purchasing an additional 15,960 shares during the period. Finally, Federated Investors Inc. PA boosted its position in Albemarle by 29.9% in the 2nd quarter. Federated Investors Inc. PA now owns 644,563 shares of the specialty chemicals company’s stock valued at $60,802,000 after buying an additional 148,243 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on ALB shares. Loop Capital set a $130.00 price target on shares of Albemarle and gave the stock a “buy” rating in a research report on Friday, October 19th. ValuEngine lowered shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Vertical Research assumed coverage on shares of Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Vertical Group assumed coverage on shares of Albemarle in a research note on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $122.43.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The firm had revenue of $778.00 million during the quarter, compared to analyst estimates of $796.79 million. During the same quarter last year, the business earned $1.08 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Albemarle Co. will post 5.43 EPS for the current fiscal 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 issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, December 13th. Albemarle’s dividend payout ratio is 29.19%.
In related news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $96.54, for a total value of $299,274.00. Following the sale, the executive vice president now directly owns 27,142 shares in the company, valued at approximately $2,620,288.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.
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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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