State of Alaska Department of Revenue decreased its holdings in Albemarle Co. (NYSE:ALB) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,282 shares of the specialty chemicals company’s stock after selling 881 shares during the period. State of Alaska Department of Revenue’s holdings in Albemarle were worth $2,549,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of ALB. FMR LLC grew its holdings in shares of Albemarle by 30.1% in the second quarter. FMR LLC now owns 2,721,995 shares of the specialty chemicals company’s stock worth $210,165,000 after acquiring an additional 629,677 shares during the period. Payden & Rygel purchased a new position in Albemarle during the third quarter valued at $22,579,000. First Trust Advisors LP lifted its position in Albemarle by 60.9% during the third quarter. First Trust Advisors LP now owns 401,550 shares of the specialty chemicals company’s stock valued at $35,850,000 after purchasing an additional 151,951 shares in the last quarter. Standard Life Aberdeen plc lifted its position in Albemarle by 266.9% during the third quarter. Standard Life Aberdeen plc now owns 138,380 shares of the specialty chemicals company’s stock valued at $12,354,000 after purchasing an additional 100,665 shares in the last quarter. Finally, Cibc World Markets Corp lifted its position in Albemarle by 950.0% during the third quarter. Cibc World Markets Corp now owns 109,572 shares of the specialty chemicals company’s stock valued at $9,783,000 after purchasing an additional 99,137 shares in the last quarter. 86.38% of the stock is owned by institutional investors.
ALB opened at $179.92 on Thursday. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 50.26, a P/E/G ratio of 3.87 and a beta of 1.59. The stock’s 50 day moving average price is $148.42 and its 200-day moving average price is $107.29. Albemarle Co. has a one year low of $48.89 and a one year high of $187.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.38.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Friday, December 11th were paid a dividend of $0.385 per share. The ex-dividend date of this dividend was Thursday, December 10th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.86%. Albemarle’s dividend payout ratio is 25.50%.
Several equities analysts have recently commented on ALB shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Albemarle from $90.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, November 10th. Zacks Investment Research downgraded Albemarle from a “hold” rating to a “sell” rating and set a $99.00 price objective on the stock. in a research report on Tuesday, October 6th. Argus boosted their price objective on Albemarle from $98.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, November 13th. KeyCorp boosted their price objective on Albemarle from $60.00 to $89.00 and gave the company an “underweight” rating in a research report on Friday, November 6th. Finally, Vertical Research downgraded Albemarle from a “buy” rating to a “sell” rating in a research report on Tuesday, January 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $99.48.
In related news, Director Luther C. Iv Kissam sold 164,191 shares of the business’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $126.66, for a total value of $20,796,432.06. Also, insider Raphael Goszcz Crawford sold 14,580 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $118.43, for a total value of $1,726,709.40. Following the completion of the sale, the insider now owns 14,669 shares of the company’s stock, valued at approximately $1,737,249.67. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. The company operates in three segments: Lithium, Bromine Specialties, and Catalysts. The 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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