Nordea Investment Management AB Purchases 402 Shares of Albemarle Co. (NYSE:ALB)

Nordea Investment Management AB boosted its position in shares of Albemarle Co. (NYSE:ALBFree Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,987 shares of the specialty chemicals company’s stock after purchasing an additional 402 shares during the period. Nordea Investment Management AB’s holdings in Albemarle were worth $1,816,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ALB. Capital Research Global Investors grew its holdings in Albemarle by 128.5% during the 4th quarter. Capital Research Global Investors now owns 7,076,357 shares of the specialty chemicals company’s stock valued at $1,022,420,000 after purchasing an additional 3,979,885 shares during the last quarter. Norges Bank bought a new position in Albemarle in the 4th quarter worth about $377,341,000. Franklin Resources Inc. grew its stake in Albemarle by 47.4% in the 4th quarter. Franklin Resources Inc. now owns 5,185,734 shares of the specialty chemicals company’s stock worth $749,235,000 after acquiring an additional 1,667,164 shares in the last quarter. Capital International Investors grew its stake in Albemarle by 31.7% in the 4th quarter. Capital International Investors now owns 5,800,219 shares of the specialty chemicals company’s stock worth $838,025,000 after acquiring an additional 1,396,624 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in Albemarle by 55.8% in the 4th quarter. Primecap Management Co. CA now owns 3,476,674 shares of the specialty chemicals company’s stock worth $502,310,000 after acquiring an additional 1,245,719 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Up 7.1 %

NYSE:ALB opened at $96.90 on Thursday. The firm has a market capitalization of $11.39 billion, a P/E ratio of 35.24, a PEG ratio of 2.99 and a beta of 1.57. Albemarle Co. has a 1-year low of $90.32 and a 1-year high of $247.44. The company’s fifty day moving average price is $114.32 and its 200-day moving average price is $120.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91.

Albemarle (NYSE:ALBGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The firm’s revenue was down 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.32 EPS. As a group, equities research analysts anticipate that Albemarle Co. will post 2.07 EPS for the current year.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.65%. Albemarle’s dividend payout ratio is presently 58.18%.

Analyst Upgrades and Downgrades

ALB has been the topic of a number of research analyst reports. Scotiabank restated a “sector perform” rating and issued a $135.00 target price (down from $150.00) on shares of Albemarle in a research note on Tuesday, May 21st. Berenberg Bank raised shares of Albemarle from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $160.00 in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Albemarle from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. KeyCorp decreased their target price on shares of Albemarle from $159.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Citigroup increased their target price on shares of Albemarle from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $152.53.

Read Our Latest Research Report on ALB

Insider Activity at Albemarle

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

About Albemarle

(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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