ProShare Advisors LLC Sells 117,247 Shares of Albemarle Co. (NYSE:ALB)

ProShare Advisors LLC lessened its holdings in shares of Albemarle Co. (NYSE:ALBGet Rating) by 13.7% in the third quarter, HoldingsChannel.com reports. The fund owned 739,947 shares of the specialty chemicals company’s stock after selling 117,247 shares during the period. Albemarle accounts for about 0.8% of ProShare Advisors LLC’s investment portfolio, making the stock its 19th largest holding. ProShare Advisors LLC’s holdings in Albemarle were worth $195,672,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALB. Fairfield Bush & CO. boosted its position in shares of Albemarle by 15.0% during the 1st quarter. Fairfield Bush & CO. now owns 5,565 shares of the specialty chemicals company’s stock valued at $1,231,000 after acquiring an additional 725 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Albemarle by 17.5% during the 1st quarter. Raymond James Trust N.A. now owns 4,377 shares of the specialty chemicals company’s stock valued at $968,000 after acquiring an additional 651 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Albemarle by 186.4% during the 1st quarter. Synovus Financial Corp now owns 2,898 shares of the specialty chemicals company’s stock valued at $635,000 after acquiring an additional 1,886 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of Albemarle by 5.0% during the 1st quarter. Cibc World Market Inc. now owns 8,785 shares of the specialty chemicals company’s stock valued at $1,943,000 after acquiring an additional 418 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Albemarle by 8.0% during the 1st quarter. Blair William & Co. IL now owns 3,859 shares of the specialty chemicals company’s stock valued at $853,000 after buying an additional 286 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.

Albemarle Trading Down 0.5 %

Shares of ALB traded down $1.42 during mid-day trading on Wednesday, hitting $263.17. 73,611 shares of the company’s stock traded hands, compared to its average volume of 1,453,869. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Albemarle Co. has a 1 year low of $169.93 and a 1 year high of $334.55. The firm has a market capitalization of $30.83 billion, a P/E ratio of 19.85, a PEG ratio of 0.60 and a beta of 1.45. The business’s 50-day moving average price is $248.26 and its 200-day moving average price is $259.38.

Albemarle (NYSE:ALBGet Rating) last posted its earnings results on Wednesday, November 2nd. The specialty chemicals company reported $7.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.84 by $0.66. Albemarle had a return on equity of 26.84% and a net margin of 27.77%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 151.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Albemarle Co. will post 20.95 EPS for the current fiscal year.

Insider Activity

In other news, EVP Karen G. Narwold sold 9,072 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $322.26, for a total transaction of $2,923,542.72. Following the transaction, the executive vice president now directly owns 8,507 shares of the company’s stock, valued at $2,741,465.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Karen G. Narwold sold 9,072 shares of Albemarle stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $322.26, for a total transaction of $2,923,542.72. Following the sale, the executive vice president now directly owns 8,507 shares in the company, valued at $2,741,465.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Norris sold 2,390 shares of Albemarle stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $307.80, for a total value of $735,642.00. Following the sale, the insider now owns 15,564 shares in the company, valued at $4,790,599.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,681 shares of company stock valued at $5,310,662. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ALB has been the topic of a number of research reports. Morgan Stanley raised their price objective on Albemarle from $145.00 to $155.00 and gave the company an “underweight” rating in a report on Monday, November 28th. Robert W. Baird raised their price objective on Albemarle from $298.00 to $305.00 in a report on Wednesday. Oppenheimer raised their price objective on Albemarle from $461.00 to $497.00 in a report on Wednesday. Mizuho decreased their price objective on Albemarle from $325.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, January 12th. Finally, Royal Bank of Canada raised their price objective on Albemarle from $340.00 to $362.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and a consensus target price of $293.58.

Albemarle Company Profile

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Albemarle Corp. engages in the development, manufacture, 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, Catalysts, and All Other.

See Also

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALBGet Rating).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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