Parkside Investments LLC Takes $245,000 Position in Albemarle Corporation (ALB)
Parkside Investments LLC purchased a new position in shares of Albemarle Corporation (NYSE:ALB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,800 shares of the specialty chemicals company’s stock, valued at approximately $245,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 20 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in Albemarle Corporation by 650.0% in the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 650 shares during the period. Carroll Financial Associates Inc. lifted its holdings in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after acquiring an additional 3 shares during the period. Smithfield Trust Co. lifted its holdings in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 140 shares during the period. Finally, Highlander Capital Management LLC acquired a new stake in Albemarle Corporation in the second quarter valued at $106,000. 86.64% of the stock is owned by hedge funds and other institutional investors.
In other Albemarle Corporation news, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation 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 completion of the sale, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the completion of the sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.
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Albemarle Corporation (NYSE ALB) traded down $0.22 during trading on Monday, reaching $140.62. The company had a trading volume of 1,056,300 shares, compared to its average volume of 1,173,828. The stock has a market cap of $15,537.89, a PE ratio of 34.81, a PEG ratio of 2.14 and a beta of 1.72. Albemarle Corporation has a 1 year low of $76.32 and a 1 year high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35.
Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. equities research analysts predict that Albemarle Corporation will post 4.45 EPS for the current fiscal year.
The business 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. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle Corporation’s dividend payout ratio is presently 16.56%.
A number of equities research analysts have commented on ALB shares. BidaskClub downgraded Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $136.00 target price on shares of Albemarle Corporation in a report on Wednesday, September 20th. Instinet raised their target price on Albemarle Corporation from $134.00 to $146.00 and gave the company a “buy” rating in a report on Monday, September 18th. KeyCorp reissued a “buy” rating and issued a $125.00 target price on shares of Albemarle Corporation in a report on Sunday, September 3rd. Finally, Jefferies Group LLC set a $144.00 target price on Albemarle Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Albemarle Corporation presently has an average rating of “Buy” and a consensus target price of $128.15.
About Albemarle Corporation
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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