Insider Selling: Albemarle Corporation (ALB) CFO Sells $95,785.34 in Stock
Albemarle Corporation (NYSE:ALB) CFO Scott Tozier sold 1,057 shares of Albemarle Corporation stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $90.62, for a total transaction of $95,785.34. Following the transaction, the chief financial officer now owns 29,722 shares in the company, valued at $2,693,407.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Albemarle Corporation (NYSE:ALB) opened at 93.75 on Friday. The company has a 50-day moving average of $88.74 and a 200-day moving average of $83.75. Albemarle Corporation has a one year low of $45.78 and a one year high of $94.31. The company has a market capitalization of $10.54 billion, a PE ratio of 49.08 and a beta of 1.52.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Albemarle Corporation had a net margin of 6.92% and a return on equity of 14.38%. The business had revenue of $654 million for the quarter, compared to analyst estimates of $645.81 million. During the same period last year, the business posted $0.90 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts anticipate that Albemarle Corporation will post $3.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 2nd. Investors of record on Thursday, December 15th were issued a dividend of $0.305 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.30%. Albemarle Corporation’s payout ratio is 63.54%.
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Several large investors have recently modified their holdings of ALB. First Heartland Consultants Inc. bought a new stake in shares of Albemarle Corporation during the third quarter worth approximately $305,000. ETRADE Capital Management LLC bought a new stake in shares of Albemarle Corporation during the third quarter worth approximately $224,000. Piedmont Investment Advisors LLC bought a new stake in shares of Albemarle Corporation during the third quarter worth approximately $607,000. Price T Rowe Associates Inc. MD raised its stake in shares of Albemarle Corporation by 0.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 200,490 shares of the company’s stock worth $17,140,000 after buying an additional 1,600 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of Albemarle Corporation during the third quarter worth approximately $15,749,000. Institutional investors and hedge funds own 84.06% of the company’s stock.
Several equities analysts have weighed in on ALB shares. Zacks Investment Research upgraded shares of Albemarle Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 10th. Instinet lifted their price objective on shares of Albemarle Corporation from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, January 6th. Jefferies Group reiterated a “buy” rating and set a $102.00 price objective on shares of Albemarle Corporation in a research report on Friday, January 6th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a $116.00 price objective on shares of Albemarle Corporation in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $89.00.
Albemarle Corporation Company Profile
Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services.
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