Advisory Research Inc. held its position in shares of Albemarle Corporation (NYSE:ALB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,888 shares of the specialty chemicals company’s stock at the end of the 2nd quarter. Advisory Research Inc.’s holdings in Albemarle Corporation were worth $3,369,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its stake in Albemarle Corporation by 414.7% in the second quarter. Cubist Systematic Strategies LLC now owns 12,786 shares of the specialty chemicals company’s stock valued at $1,349,000 after buying an additional 10,302 shares in the last quarter. black and white Capital LP acquired a new stake in Albemarle Corporation in the second quarter valued at about $6,332,000. Peapack Gladstone Financial Corp acquired a new stake in Albemarle Corporation in the second quarter valued at about $375,000. Janus Henderson Group PLC boosted its stake in Albemarle Corporation by 907.7% in the second quarter. Janus Henderson Group PLC now owns 817,035 shares of the specialty chemicals company’s stock valued at $86,230,000 after buying an additional 735,956 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its stake in Albemarle Corporation by 20.5% in the second quarter. Flinton Capital Management LLC now owns 36,988 shares of the specialty chemicals company’s stock valued at $3,904,000 after buying an additional 6,300 shares in the last quarter. 83.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Matthew Juneau sold 5,397 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the transaction, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the transaction, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.
Shares of Albemarle Corporation (ALB) traded down 0.2257% during mid-day trading on Wednesday, hitting $137.4591. The stock had a trading volume of 122,415 shares. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $140.10. The firm has a 50 day moving average price of $126.58 and a 200-day moving average price of $114.71. The stock has a market cap of $15.19 billion, a P/E ratio of 17.5801 and a beta of 1.67.
Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. The firm had revenue of $737.25 million for the quarter, compared to analyst estimates of $735.50 million. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. On average, equities research analysts forecast that Albemarle Corporation will post $4.37 EPS for the current year.
Several research firms recently weighed in on ALB. BidaskClub lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC set a $144.00 price objective on Albemarle Corporation and gave the company a “buy” rating in a research note on Monday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Albemarle Corporation in a research note on Thursday, June 29th. Vertical Research reaffirmed a “hold” rating and issued a $109.00 price objective (up from $108.00) on shares of Albemarle Corporation in a research note on Thursday, August 10th. Finally, Aegis reaffirmed a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Albemarle Corporation currently has a consensus rating of “Buy” and a consensus price target of $118.05.
Albemarle Corporation 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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