Albemarle Co. (NYSE:ALB) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in Albemarle Co. (NYSE:ALBFree Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,484 shares of the specialty chemicals company’s stock after buying an additional 412 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Albemarle worth $12,641,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. USCF Advisers LLC lifted its position in Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Albemarle during the fourth quarter worth about $30,000. Jones Financial Companies Lllp lifted its position in shares of Albemarle by 2,942.9% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of Albemarle during the third quarter worth about $35,000. Finally, VisionPoint Advisory Group LLC lifted its position in shares of Albemarle by 21,400.0% during the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Albemarle

In other news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the transaction, the chief accounting officer now directly owns 4,743 shares in the company, valued at $626,882.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the transaction, the senior vice president now directly owns 6,802 shares in the company, valued at approximately $921,875.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO John Clarence Barichivich III sold 1,475 shares of Albemarle stock in a transaction on Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares in the company, valued at $626,882.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Albemarle Stock Performance

Shares of Albemarle stock opened at $114.07 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.84 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $13.41 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.88 and a beta of 1.61. The firm’s 50 day moving average is $123.63 and its two-hundred day moving average is $125.79. Albemarle Co. has a 52 week low of $106.69 and a 52 week high of $247.44.

Albemarle (NYSE:ALBGet Free Report) last announced its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The business’s revenue was down 47.3% on a year-over-year basis. During the same quarter last year, the business posted $10.32 earnings per share. Research analysts forecast that Albemarle Co. will post 2.49 EPS for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. Albemarle’s dividend payout ratio (DPR) is presently 58.18%.

Analysts Set New Price Targets

ALB has been the topic of several research reports. Loop Capital reduced their price target on shares of Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Berenberg Bank raised shares of Albemarle from a “hold” rating to a “buy” rating and increased their price target for the stock from $130.00 to $160.00 in a research report on Thursday, April 11th. Royal Bank of Canada reissued an “outperform” rating and set a $157.00 price target on shares of Albemarle in a research report on Friday, May 24th. Bank of America raised shares of Albemarle from a “neutral” rating to a “buy” rating and increased their price target for the stock from $137.00 to $156.00 in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their target price on shares of Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $165.16.

Check Out Our Latest Stock Analysis on Albemarle

Albemarle Company Profile

(Free Report)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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