Albemarle Co. (NYSE:ALB) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its position in shares of Albemarle Co. (NYSE:ALBGet Rating) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 133,410 shares of the specialty chemicals company’s stock after selling 2,849 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.11% of Albemarle worth $29,504,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALB. Allspring Global Investments Holdings LLC purchased a new position in Albemarle during the fourth quarter worth $1,741,000. CWM LLC purchased a new position in Albemarle during the fourth quarter worth $295,000. Xponance Inc. grew its position in shares of Albemarle by 23.6% in the fourth quarter. Xponance Inc. now owns 7,288 shares of the specialty chemicals company’s stock valued at $1,704,000 after purchasing an additional 1,390 shares during the period. Ieq Capital LLC grew its position in shares of Albemarle by 5.2% in the fourth quarter. Ieq Capital LLC now owns 1,416 shares of the specialty chemicals company’s stock valued at $331,000 after purchasing an additional 70 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Albemarle by 58.9% in the fourth quarter. Qube Research & Technologies Ltd now owns 60,584 shares of the specialty chemicals company’s stock valued at $14,163,000 after purchasing an additional 22,452 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALB shares. Cowen lifted their price objective on Albemarle from $275.00 to $300.00 in a research report on Friday, May 6th. Wells Fargo & Company lifted their price objective on Albemarle from $285.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, May 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Albemarle from $320.00 to $255.00 in a research report on Wednesday, July 6th. Citigroup boosted their price target on Albemarle from $262.00 to $279.00 in a research report on Friday, May 6th. Finally, Mizuho boosted their price target on Albemarle from $243.00 to $293.00 in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and an average price target of $273.95.

Albemarle Trading Up 1.3 %

Shares of NYSE ALB opened at $237.99 on Friday. The stock’s 50 day moving average price is $224.06 and its two-hundred day moving average price is $215.79. Albemarle Co. has a 52-week low of $169.93 and a 52-week high of $291.48. The stock has a market capitalization of $27.88 billion, a P/E ratio of 107.20, a PEG ratio of 0.44 and a beta of 1.58. The company has a quick ratio of 0.63, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Albemarle (NYSE:ALBGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.66. Albemarle had a return on equity of 15.39% and a net margin of 6.08%. During the same quarter in the previous year, the company earned $0.89 EPS. On average, analysts anticipate that Albemarle Co. will post 20.75 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 16th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, September 15th. Albemarle’s payout ratio is currently 71.17%.

Albemarle Company Profile

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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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