Albemarle Co. (ALB) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its stake in shares of Albemarle Co. (NYSE:ALB) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 308,123 shares of the specialty chemicals company’s stock after selling 79,077 shares during the period. Royce & Associates LP owned 0.28% of Albemarle worth $42,000,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its holdings in Albemarle by 98.8% in the third quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after purchasing an additional 650,158 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Albemarle by 8.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 15,282 shares of the specialty chemicals company’s stock worth $2,083,000 after purchasing an additional 1,162 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Albemarle by 206.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,400 shares of the specialty chemicals company’s stock worth $2,519,000 after purchasing an additional 12,400 shares in the last quarter. National Asset Management Inc. boosted its holdings in Albemarle by 33.0% in the third quarter. National Asset Management Inc. now owns 4,404 shares of the specialty chemicals company’s stock worth $601,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Argent Trust Co acquired a new position in Albemarle during the 3rd quarter worth $215,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Albemarle Co. (NYSE:ALB) opened at $127.48 on Thursday. Albemarle Co. has a 52-week low of $85.60 and a 52-week high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The company has a market cap of $14,142.33, a PE ratio of 31.68, a PEG ratio of 1.94 and a beta of 1.69.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. sell-side analysts forecast that Albemarle Co. will post 4.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle’s dividend payout ratio (DPR) is presently 16.56%.

A number of research firms have weighed in on ALB. ValuEngine lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Deutsche Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Jefferies Group boosted their target price on shares of Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Nomura boosted their target price on shares of Albemarle to $159.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, Royal Bank Of Canada boosted their target price on shares of Albemarle from $149.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Albemarle has a consensus rating of “Buy” and a consensus target price of $128.45.

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About Albemarle

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.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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