KAMES CAPITAL plc Sells 51,467 Shares of Albemarle Co. (ALB)
KAMES CAPITAL plc lowered its position in shares of Albemarle Co. (NYSE:ALB) by 9.7% during the first quarter, HoldingsChannel.com reports. The firm owned 477,840 shares of the specialty chemicals company’s stock after selling 51,467 shares during the quarter. KAMES CAPITAL plc’s holdings in Albemarle were worth $39,188,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of ALB. Rehmann Capital Advisory Group increased its stake in Albemarle by 3,087.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 247 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Albemarle by 143.1% during the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 206 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of Albemarle during the 4th quarter valued at $27,000. First Quadrant L P CA acquired a new stake in shares of Albemarle during the 4th quarter valued at $31,000. Finally, Private Capital Group LLC boosted its holdings in shares of Albemarle by 332.7% during the 4th quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 94.08% of the company’s stock.
In other news, EVP Karen G. Narwold sold 1,243 shares of Albemarle stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $91.00, for a total value of $113,113.00. Following the completion of the transaction, the executive vice president now directly owns 34,757 shares of the company’s stock, valued at approximately $3,162,887. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott Tozier sold 2,961 shares of Albemarle stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $91.00, for a total value of $269,451.00. Following the completion of the transaction, the chief financial officer now directly owns 49,672 shares of the company’s stock, valued at $4,520,152. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.
Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 20th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The firm had revenue of $921.70 million for the quarter, compared to the consensus estimate of $894.45 million. Albemarle had a return on equity of 15.82% and a net margin of 20.55%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 EPS. Equities research analysts predict that Albemarle Co. will post 6.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Albemarle’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a yield of 1.74%. Albemarle’s payout ratio is presently 26.82%.
Several equities research analysts recently weighed in on ALB shares. Vertical Group cut their price objective on Albemarle from $86.00 to $59.00 in a report on Tuesday, January 15th. reissued a “buy” rating and set a $157.00 price objective on shares of Albemarle in a report on Thursday, February 14th. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Thursday, December 20th. Loop Capital cut their price objective on Albemarle to $112.00 and set a “buy” rating on the stock in a report on Friday, January 18th. They noted that the move was a valuation call. Finally, Berenberg Bank downgraded Albemarle from a “buy” rating to a “hold” rating and cut their price objective for the company from $120.00 to $78.11 in a report on Thursday, January 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Albemarle has a consensus rating of “Hold” and an average target price of $101.48.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.
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