IFM Investors Pty Ltd Has $3.26 Million Stock Position in Albemarle Co. (NYSE:ALB)

IFM Investors Pty Ltd lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 14,875 shares of the specialty chemicals company’s stock after acquiring an additional 114 shares during the quarter. IFM Investors Pty Ltd’s holdings in Albemarle were worth $3,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Albemarle by 1.0% during the second quarter. Vanguard Group Inc. now owns 13,391,991 shares of the specialty chemicals company’s stock worth $2,256,016,000 after purchasing an additional 133,942 shares during the period. BlackRock Inc. grew its stake in Albemarle by 10.5% in the 2nd quarter. BlackRock Inc. now owns 9,754,228 shares of the specialty chemicals company’s stock valued at $1,643,197,000 after buying an additional 928,984 shares during the last quarter. Franklin Resources Inc. raised its holdings in Albemarle by 3.7% in the 2nd quarter. Franklin Resources Inc. now owns 7,530,429 shares of the specialty chemicals company’s stock valued at $1,268,576,000 after acquiring an additional 271,845 shares during the period. State Street Corp lifted its position in Albemarle by 9.3% during the second quarter. State Street Corp now owns 5,783,084 shares of the specialty chemicals company’s stock worth $976,445,000 after acquiring an additional 490,201 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Albemarle by 22.2% during the second quarter. Bank of New York Mellon Corp now owns 3,031,936 shares of the specialty chemicals company’s stock worth $510,761,000 after acquiring an additional 551,690 shares during the period. 80.92% of the stock is owned by institutional investors.

ALB stock opened at $274.48 on Thursday. The stock has a market cap of $32.11 billion, a price-to-earnings ratio of 145.23, a P/E/G ratio of 3.20 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.31 and a quick ratio of 0.84. The company has a 50 day simple moving average of $243.03 and a 200 day simple moving average of $210.45. Albemarle Co. has a 1 year low of $130.76 and a 1 year high of $291.48.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, November 3rd. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.28. Albemarle had a net margin of 6.40% and a return on equity of 8.42%. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, equities research analysts anticipate that Albemarle Co. will post 3.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Stockholders of record on Friday, December 17th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, December 16th. Albemarle’s dividend payout ratio (DPR) is currently 82.54%.

In related news, EVP Karen G. Narwold sold 1,337 shares of the company’s stock in a transaction that occurred on Friday, October 8th. The stock was sold at an average price of $221.98, for a total value of $296,787.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO John Clarence Barichivich III sold 540 shares of the business’s stock in a transaction on Friday, November 12th. The shares were sold at an average price of $271.15, for a total transaction of $146,421.00. The disclosure for this sale can be found here. Insiders sold 40,881 shares of company stock valued at $11,182,002 in the last ninety days. 0.63% of the stock is currently owned by insiders.

ALB has been the subject of several recent research reports. Evercore ISI restated a “buy” rating and issued a $295.00 price target on shares of Albemarle in a research note on Friday, November 19th. Oppenheimer upped their price target on shares of Albemarle from $296.00 to $307.00 and gave the company an “outperform” rating in a research note on Thursday, November 4th. KeyCorp lifted their price objective on shares of Albemarle from $131.00 to $144.00 and gave the stock an “underweight” rating in a research note on Friday, November 5th. Mizuho increased their target price on shares of Albemarle from $247.00 to $281.00 and gave the stock a “neutral” rating in a research report on Friday, November 5th. Finally, BMO Capital Markets lifted their price target on shares of Albemarle from $265.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, September 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $236.15.

About Albemarle

Albemarle Corp. engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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