Investors sold shares of Albemarle Corporation (NYSE:ALB) on strength during trading on Monday. $33.33 million flowed into the stock on the tick-up and $68.70 million flowed out of the stock on the tick-down, for a money net flow of $35.37 million out of the stock. Of all stocks tracked, Albemarle Corporation had the 0th highest net out-flow for the day. Albemarle Corporation traded up $0.26 for the day and closed at $118.60
ALB has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Monday, April 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Albemarle Corporation in a report on Tuesday, April 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Albemarle Corporation in a report on Sunday, April 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $132.00 price objective on shares of Albemarle Corporation in a report on Tuesday, April 18th. Finally, Nomura reaffirmed a “buy” rating and set a $124.00 price objective on shares of Albemarle Corporation in a report on Friday, May 5th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $104.80.
The stock’s 50-day moving average price is $111.19 and its 200 day moving average price is $104.61. The firm has a market capitalization of $13.16 billion, a P/E ratio of 28.87 and a beta of 1.58.
Albemarle Corporation (NYSE:ALB) last released its quarterly earnings data on Wednesday, May 3rd. The specialty chemicals company reported $1.05 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $722.06 million during the quarter, compared to analysts’ expectations of $678.74 million. On average, equities analysts forecast that Albemarle Corporation will post $4.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.08%. Albemarle Corporation’s payout ratio is presently 31.22%.
In other news, CFO Scott Tozier sold 25,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.13, for a total value of $2,753,250.00. Following the completion of the sale, the chief financial officer now owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas L. Maine sold 10,000 shares of the business’s 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 completion of the sale, the director now directly owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The disclosure for this sale can be found here. In the last three months, insiders sold 105,000 shares of company stock valued at $11,499,850. 0.74% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Carroll Financial Associates Inc. boosted its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 5 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock worth $171,000 after buying an additional 254 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Albemarle Corporation by 26.8% in the second quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 370 shares during the last quarter. Finally, Cullinan Associates Inc. acquired a new stake in shares of Albemarle Corporation during the first quarter worth about $201,000. 86.16% of the stock is owned by institutional investors.
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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