Westpac Banking Corp maintained its position in shares of Albemarle Corporation (NYSE:ALB) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,745 shares of the specialty chemicals company’s stock at the end of the second quarter. Westpac Banking Corp’s holdings in Albemarle Corporation were worth $712,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Albemarle Corporation by 2,805.3% during the 1st quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock valued at $877,947,000 after acquiring an additional 8,024,668 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Albemarle Corporation by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock valued at $1,298,083,000 after acquiring an additional 725,702 shares during the last quarter. Jennison Associates LLC raised its position in shares of Albemarle Corporation by 12.0% during the 2nd quarter. Jennison Associates LLC now owns 6,421,530 shares of the specialty chemicals company’s stock valued at $677,728,000 after acquiring an additional 689,054 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Albemarle Corporation by 20,921.1% during the 2nd quarter. Federated Investors Inc. PA now owns 440,813 shares of the specialty chemicals company’s stock valued at $46,523,000 after acquiring an additional 438,716 shares during the last quarter. Finally, Barings LLC bought a new stake in shares of Albemarle Corporation during the 1st quarter valued at $29,862,000. Hedge funds and other institutional investors own 84.01% of the company’s stock.
Several analysts have commented on ALB shares. Royal Bank Of Canada reiterated a “buy” rating and set a $136.00 target price on shares of Albemarle Corporation in a research report on Friday, July 14th. Aegis reiterated a “buy” rating on shares of Albemarle Corporation in a research report on Friday, July 7th. Zacks Investment Research upgraded shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Friday, July 7th. 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Albemarle Corporation in a research report on Thursday, June 29th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $110.94.
In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $107.94, for a total value of $1,079,400.00. Following the completion of the sale, the director now directly owns 24,150 shares of the company’s stock, valued at $2,606,751. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Karen G. Narwold sold 20,000 shares of Albemarle Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $108.16, for a total transaction of $2,163,200.00. Following the completion of the sale, the executive vice president now directly owns 45,120 shares of the company’s stock, valued at $4,880,179.20. The disclosure for this sale can be found here. Insiders have sold 121,897 shares of company stock valued at $13,458,086 in the last three months. 0.74% of the stock is owned by insiders.
COPYRIGHT VIOLATION NOTICE: “Westpac Banking Corp Continues to Hold Holdings in Albemarle Corporation (ALB)” was published by Markets Daily and is the property of of Markets Daily. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at https://www.themarketsdaily.com/2017/09/13/westpac-banking-corp-continues-to-hold-holdings-in-albemarle-corporation-alb.html.
Shares of Albemarle Corporation (NYSE ALB) opened at 124.64 on Wednesday. The company has a 50 day moving average of $116.04 and a 200-day moving average of $110.12. The company has a market cap of $13.77 billion, a PE ratio of 15.94 and a beta of 1.61. Albemarle Corporation has a 52-week low of $75.13 and a 52-week high of $126.32.
Albemarle Corporation (NYSE:ALB) last announced its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The business had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. During the same quarter last year, the firm earned $0.93 earnings per share. Albemarle Corporation’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts forecast 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. Investors of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio is presently 16.41%.
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.
Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Corporation (NYSE:ALB).
Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.