Ossiam acquired a new position in shares of Albemarle Co. (NYSE:ALB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,306 shares of the specialty chemicals company’s stock, valued at approximately $162,000.
Other hedge funds have also made changes to their positions in the company. Cornerstone Advisors Inc. lifted its position in shares of Albemarle by 19.4% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,490 shares of the specialty chemicals company’s stock worth $246,000 after buying an additional 567 shares during the last quarter. Kistler Tiffany Companies LLC lifted its position in shares of Albemarle by 29.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,885 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 432 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Albemarle during the 2nd quarter worth $1,878,000. Arizona State Retirement System raised its position in Albemarle by 14.1% in the second quarter. Arizona State Retirement System now owns 52,073 shares of the specialty chemicals company’s stock valued at $3,666,000 after purchasing an additional 6,441 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Albemarle by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 56,910 shares of the specialty chemicals company’s stock valued at $4,665,000 after purchasing an additional 8,665 shares during the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.
In other Albemarle news, insider Eric Norris bought 3,090 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average price of $64.66 per share, with a total value of $199,799.40. Following the completion of the purchase, the insider now directly owns 164 shares of the company’s stock, valued at approximately $10,604.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.02% of the company’s stock.
NYSE ALB traded up $0.15 during trading hours on Friday, hitting $69.43. 733,760 shares of the company’s stock were exchanged, compared to its average volume of 1,511,228. The stock has a 50-day simple moving average of $66.12 and a 200 day simple moving average of $73.81. Albemarle Co. has a 1-year low of $58.63 and a 1-year high of $108.74. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.82 and a beta of 1.64. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35.
Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.41 by $0.14. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The business had revenue of $885.05 million during the quarter, compared to analysts’ expectations of $893.50 million. During the same quarter last year, the firm posted $1.36 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Albemarle Co. will post 6.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.3675 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.47 annualized dividend and a yield of 2.12%. Albemarle’s dividend payout ratio is currently 26.82%.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
See Also: What is the definition of market timing?
Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB).
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.