Albemarle Corporation (ALB) Shares Bought by QCI Asset Management Inc. NY
QCI Asset Management Inc. NY boosted its stake in shares of Albemarle Corporation (NYSE:ALB) by 21,367.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,403 shares of the specialty chemicals company’s stock after purchasing an additional 64,103 shares during the quarter. QCI Asset Management Inc. NY owned about 0.06% of Albemarle Corporation worth $8,779,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ALB. Northwestern Mutual Wealth Management Co. boosted its position in Albemarle Corporation 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 purchasing an additional 20 shares during the period. Thompson Davis & CO. Inc. boosted its position in Albemarle Corporation by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 650 shares during the period. Carroll Financial Associates Inc. boosted its position in Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after purchasing an additional 3 shares during the period. Smithfield Trust Co. boosted its position in Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 140 shares during the period. Finally, Highlander Capital Management LLC bought a new position in Albemarle Corporation during the second quarter worth $106,000. 86.64% of the stock is owned by hedge funds and other institutional investors.
In other Albemarle Corporation news, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the transaction, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the transaction, the executive vice president now directly owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
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ALB has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $135.00 price objective (up from $125.00) on shares of Albemarle Corporation in a research report on Tuesday, July 18th. They noted that the move was a valuation call. BidaskClub cut shares of Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. SunTrust Banks, Inc. cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a research report on Wednesday, August 9th. Finally, Vertical Research reaffirmed a “hold” rating and set a $109.00 price objective (up from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Albemarle Corporation currently has a consensus rating of “Buy” and a consensus price target of $128.15.
Albemarle Corporation (NYSE:ALB) traded down $0.22 on Monday, reaching $140.62. 1,056,300 shares of the company traded hands, compared to its average volume of 1,173,828. Albemarle Corporation has a 1-year low of $76.32 and a 1-year high of $144.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. The company has a market capitalization of $15,600.00, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.72.
Albemarle Corporation (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, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. Albemarle Corporation’s revenue was up 15.4% compared to the same quarter last year. sell-side analysts anticipate that Albemarle Corporation will post 4.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 annualized dividend and a yield of 0.91%. Albemarle Corporation’s dividend payout ratio is 45.71%.
Albemarle Corporation 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.
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