Albemarle Co. (ALB) Shares Sold by Schroder Investment Management Group
Schroder Investment Management Group decreased its position in Albemarle Co. (NYSE:ALB) by 57.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,217 shares of the specialty chemicals company’s stock after selling 23,133 shares during the quarter. Schroder Investment Management Group’s holdings in Albemarle were worth $2,278,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Albemarle by 9.2% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,984 shares of the specialty chemicals company’s stock worth $1,225,000 after acquiring an additional 756 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Albemarle by 113.6% in the third quarter. JPMorgan Chase & Co. now owns 975,732 shares of the specialty chemicals company’s stock worth $129,109,000 after acquiring an additional 518,990 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Albemarle by 6.7% in the third quarter. Legal & General Group Plc now owns 580,347 shares of the specialty chemicals company’s stock worth $79,100,000 after acquiring an additional 36,342 shares in the last quarter. Eagle Boston Investment Management Inc. grew its stake in shares of Albemarle by 4.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 13,422 shares of the specialty chemicals company’s stock worth $1,833,000 after acquiring an additional 521 shares in the last quarter. Finally, AGF Investments America Inc. grew its stake in shares of Albemarle by 13.1% in the third quarter. AGF Investments America Inc. now owns 41,932 shares of the specialty chemicals company’s stock worth $5,716,000 after acquiring an additional 4,864 shares in the last quarter. 88.10% of the stock is currently owned by institutional investors.
Albemarle Co. (NYSE ALB) opened at $130.10 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. The company has a market cap of $14,404.21, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.97 and a beta of 1.69. Albemarle Co. has a 12 month low of $85.60 and a 12 month high of $144.99.
Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. analysts expect that Albemarle Co. will post 4.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. Albemarle’s payout ratio is currently 16.56%.
Several equities analysts have commented on ALB shares. Oppenheimer boosted their price target on shares of Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Deutsche Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BMO Capital Markets started coverage on shares of Albemarle in a research note on Tuesday, October 24th. They issued an “outperform” rating and a $160.00 price target for the company. Nomura boosted their price target on shares of Albemarle to $159.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research note on Tuesday, October 17th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $128.45.
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Albemarle 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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