Blue Edge Capital LLC trimmed its position in shares of Albemarle Co. (NYSE:ALB) by 0.4% during the 1st quarter, HoldingsChannel reports. The firm owned 28,297 shares of the specialty chemicals company’s stock after selling 101 shares during the quarter. Blue Edge Capital LLC’s holdings in Albemarle were worth $4,134,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ALB. Robeco Schweiz AG lifted its holdings in shares of Albemarle by 963.3% in the first quarter. Robeco Schweiz AG now owns 1,595,000 shares of the specialty chemicals company’s stock valued at $233,045,000 after purchasing an additional 1,445,000 shares in the last quarter. BlackRock Inc. boosted its position in Albemarle by 16.2% during the 1st quarter. BlackRock Inc. now owns 8,825,244 shares of the specialty chemicals company’s stock worth $1,289,457,000 after acquiring an additional 1,227,449 shares during the period. Norges Bank purchased a new position in Albemarle during the 4th quarter valued at about $137,969,000. Baillie Gifford & Co. increased its holdings in shares of Albemarle by 10.3% in the 1st quarter. Baillie Gifford & Co. now owns 4,627,283 shares of the specialty chemicals company’s stock valued at $676,092,000 after purchasing an additional 431,127 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Albemarle by 70.4% in the fourth quarter. Handelsbanken Fonder AB now owns 845,874 shares of the specialty chemicals company’s stock worth $124,783,000 after purchasing an additional 349,448 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on ALB. Cowen initiated coverage on shares of Albemarle in a research report on Monday, March 15th. They issued an “outperform” rating and a $180.00 target price for the company. Royal Bank of Canada raised Albemarle from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $135.00 to $168.00 in a research report on Thursday, May 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Albemarle from $174.00 to $191.00 in a research report on Monday, May 10th. Wells Fargo & Company lifted their price target on Albemarle from $162.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, May 12th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded Albemarle from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $200.00 in a report on Monday, April 19th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Albemarle presently has a consensus rating of “Hold” and a consensus target price of $143.36.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Tuesday, May 4th. The specialty chemicals company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.30. Albemarle had a net margin of 11.31% and a return on equity of 9.66%. The company had revenue of $829.29 million during the quarter, compared to analysts’ expectations of $754.03 million. Equities analysts forecast that Albemarle Co. will post 3.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, June 10th. Albemarle’s dividend payout ratio is 37.86%.
In related news, insider Raphael Goszcz Crawford sold 6,255 shares of the stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $159.73, for a total transaction of $999,111.15. Following the completion of the sale, the insider now owns 23,574 shares in the company, valued at approximately $3,765,475.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Clarence Barichivich III sold 1,340 shares of the stock in a transaction dated Thursday, June 3rd. The stock was sold at an average price of $167.85, for a total transaction of $224,919.00. Following the sale, the chief accounting officer now owns 2,999 shares of the company’s stock, valued at approximately $503,382.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,158 shares of company stock valued at $2,952,747. Corporate insiders own 0.63% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine Specialties, 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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