Bronfman E.L. Rothschild L.P. Decreases Position in Albemarle Corporation (ALB)
Bronfman E.L. Rothschild L.P. cut its stake in Albemarle Corporation (NYSE:ALB) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,879 shares of the specialty chemicals company’s stock after selling 415 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Albemarle Corporation were worth $665,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ALB. Cornerstone Advisors Inc. lifted its stake in Albemarle Corporation by 26.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 370 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Albemarle Corporation by 100.8% in the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock worth $19,478,000 after purchasing an additional 92,650 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Albemarle Corporation in the 2nd quarter worth approximately $439,000. Sumitomo Life Insurance Co. purchased a new position in Albemarle Corporation in the 3rd quarter worth approximately $1,703,000. Finally, Vanguard Group Inc. lifted its stake in Albemarle Corporation by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares in the last quarter. 87.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on ALB. Deutsche Bank AG downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Jefferies Group LLC raised their price target on shares of Albemarle Corporation from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Nomura raised their price target on shares of Albemarle Corporation to $159.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Royal Bank Of Canada raised their price target on shares of Albemarle Corporation from $149.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, UBS Group AG raised their price target on shares of Albemarle Corporation from $123.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, November 9th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Albemarle Corporation currently has an average rating of “Buy” and a consensus target price of $128.45.
Shares of Albemarle Corporation (NYSE:ALB) traded down $1.45 during mid-day trading on Thursday, reaching $135.25. 715,300 shares of the company’s stock traded hands, compared to its average volume of 1,179,586. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. Albemarle Corporation has a 52 week low of $83.04 and a 52 week high of $144.99. The stock has a market cap of $15,104.75, a PE ratio of 33.84, a PEG ratio of 2.07 and a beta of 1.72.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. sell-side analysts predict that Albemarle Corporation will post 4.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 0.95%. Albemarle Corporation’s dividend payout ratio (DPR) is presently 16.56%.
Albemarle Corporation 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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