Dimensional Fund Advisors LP grew its holdings in shares of Albemarle Co. (NYSE:ALB) by 0.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,718,153 shares of the specialty chemicals company’s stock after acquiring an additional 1,736 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Albemarle were worth $253,485,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the business. IMA Wealth Inc. acquired a new stake in shares of Albemarle in the 4th quarter worth about $25,000. Kinloch Capital LLC acquired a new stake in shares of Albemarle in the 4th quarter worth about $48,000. Pacifica Partners Inc. acquired a new stake in shares of Albemarle in the 4th quarter worth about $53,000. Exchange Traded Concepts LLC increased its holdings in shares of Albemarle by 692.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 404 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 353 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its position in Albemarle by 194.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 491 shares of the specialty chemicals company’s stock valued at $72,000 after buying an additional 324 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors.
In other Albemarle news, Director Luther C. Iv Kissam sold 15,478 shares of Albemarle stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $152.26, for a total transaction of $2,356,680.28. Also, EVP Karen G. Narwold sold 1,478 shares of Albemarle stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $153.89, for a total transaction of $227,449.42. Following the sale, the executive vice president now owns 43,695 shares in the company, valued at approximately $6,724,223.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,477 shares of company stock worth $2,818,196. 1.07% of the stock is currently owned by corporate insiders.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Tuesday, May 4th. The specialty chemicals company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.80 by $0.30. The company had revenue of $829.29 million for the quarter, compared to the consensus estimate of $754.03 million. Albemarle had a return on equity of 11.96% and a net margin of 11.77%. As a group, equities analysts expect that Albemarle Co. will post 3.94 EPS for the current fiscal year.
The business 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. The ex-dividend date is Thursday, June 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.01%. Albemarle’s payout ratio is 25.83%.
Several equities analysts have recently weighed in on the stock. Cowen assumed coverage on shares of Albemarle in a research report on Monday, March 15th. They set an “outperform” rating and a $180.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Albemarle from a “hold” rating to a “buy” rating and increased their price target for the stock from $175.00 to $190.00 in a research report on Monday, February 15th. Citigroup increased their price target on shares of Albemarle from $174.00 to $191.00 in a research report on Monday. Morgan Stanley increased their price target on shares of Albemarle from $50.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Royal Bank of Canada increased their price target on shares of Albemarle from $130.00 to $135.00 and gave the stock an “underperform” rating in a research report on Monday, March 1st. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $141.86.
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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