Albemarle Co. (ALB) Holdings Trimmed by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of Albemarle Co. (NYSE:ALB) by 20.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 308,123 shares of the specialty chemicals company’s stock after selling 79,077 shares during the quarter. Royce & Associates LP owned approximately 0.28% of Albemarle worth $42,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Scotia Capital Inc. grew its position in Albemarle by 0.5% during the second quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock worth $213,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. grew its position in Albemarle by 0.3% during the second quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock worth $486,000 after buying an additional 12 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Albemarle by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares in the last quarter. CIBC Asset Management Inc grew its position in Albemarle by 0.3% during the second quarter. CIBC Asset Management Inc now owns 13,097 shares of the specialty chemicals company’s stock worth $1,382,000 after buying an additional 40 shares in the last quarter. Finally, New Amsterdam Partners LLC NY grew its position in Albemarle by 0.8% during the second quarter. New Amsterdam Partners LLC NY now owns 5,382 shares of the specialty chemicals company’s stock worth $568,000 after buying an additional 41 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Co. (ALB) traded down $0.56 during midday trading on Friday, reaching $127.89. The company had a trading volume of 714,604 shares, compared to its average volume of 1,085,618. The firm has a market capitalization of $14,193.16, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.94 and a beta of 1.69. Albemarle Co. has a 1-year low of $85.60 and a 1-year high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.00%. Albemarle’s payout ratio is currently 16.56%.

A number of equities research analysts recently issued reports on the company. Loop Capital assumed coverage on Albemarle in a research report on Thursday, September 28th. They set a “buy” rating and a $150.00 price target on the stock. UBS Group upped their target price on Albemarle from $123.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. Royal Bank of Canada restated a “buy” rating and set a $149.00 target price on shares of Albemarle in a research note on Wednesday, October 18th. Zacks Investment Research cut Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, KeyCorp upped their target price on Albemarle from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $128.45.

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Albemarle Company Profile

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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