Mn Services Vermogensbeheer B.V. Increases Stake in Albemarle Corporation (NYSE:ALB)
Mn Services Vermogensbeheer B.V. increased its stake in shares of Albemarle Corporation (NYSE:ALB) by 509.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,273 shares of the specialty chemicals company’s stock after buying an additional 15,273 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Albemarle Corporation were worth $1,929,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ALB. BlackRock Inc. increased its position in Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock valued at $877,947,000 after buying an additional 8,024,668 shares during the period. Vanguard Group Inc. increased its position in Albemarle Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock valued at $1,298,083,000 after buying an additional 725,702 shares during the period. Jennison Associates LLC increased its position in Albemarle Corporation by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock valued at $602,763,000 after buying an additional 702,388 shares during the period. KAMES CAPITAL plc increased its position in Albemarle Corporation by 2,716.6% in the first quarter. KAMES CAPITAL plc now owns 322,788 shares of the specialty chemicals company’s stock valued at $34,099,000 after buying an additional 311,328 shares during the period. Finally, Barings LLC bought a new position in Albemarle Corporation during the first quarter valued at $29,862,000. Institutional investors own 86.16% of the company’s stock.
Shares of Albemarle Corporation (NYSE:ALB) opened at 117.91 on Friday. The company has a market capitalization of $13.06 billion, a PE ratio of 28.65 and a beta of 1.58. The firm’s 50-day moving average price is $110.92 and its 200-day moving average price is $104.09. Albemarle Corporation has a 12-month low of $75.11 and a 12-month high of $119.59.
Albemarle Corporation (NYSE:ALB) last posted its earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.10. Albemarle Corporation had a net margin of 17.02% and a return on equity of 11.97%. The business had revenue of $722.06 million for the quarter, compared to analyst estimates of $678.74 million. On average, analysts expect that Albemarle Corporation will post $4.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s payout ratio is currently 31.22%.
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ALB has been the topic of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 target price on shares of Albemarle Corporation in a research report on Friday, June 16th. Zacks Investment Research upgraded Albemarle Corporation from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Monday, March 27th. Morgan Stanley lowered their target price on Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 25th. Robert W. Baird reiterated an “outperform” rating and set a $125.00 target price on shares of Albemarle Corporation in a research report on Sunday, April 9th. Finally, Nomura reiterated a “buy” rating and set a $124.00 target price on shares of Albemarle Corporation in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $104.80.
In other news, Director Douglas L. Maine sold 10,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the sale, the director now directly owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Scott Tozier sold 25,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the sale, the chief financial officer now directly owns 57,506 shares in the company, valued at $6,333,135.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,000 shares of company stock worth $11,499,850. Corporate insiders own 0.74% of the company’s stock.
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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