Handelsbanken Fonder AB Cuts Stock Holdings in Albemarle Co. (NYSE:ALB)

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Handelsbanken Fonder AB trimmed its position in shares of Albemarle Co. (NYSE:ALB) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 440,756 shares of the specialty chemicals company’s stock after selling 7,926 shares during the quarter. Handelsbanken Fonder AB owned 0.41% of Albemarle worth $34,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aurora Investment Counsel boosted its holdings in shares of Albemarle by 1.9% in the 2nd quarter. Aurora Investment Counsel now owns 17,564 shares of the specialty chemicals company’s stock worth $1,356,000 after buying an additional 324 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Albemarle by 152.5% in the 2nd quarter. Stephens Inc. AR now owns 10,328 shares of the specialty chemicals company’s stock worth $797,000 after buying an additional 6,238 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Albemarle in the 2nd quarter worth about $243,000. California State Teachers Retirement System raised its stake in Albemarle by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 193,540 shares of the specialty chemicals company’s stock valued at $14,943,000 after acquiring an additional 1,523 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in Albemarle by 1.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 57,929 shares of the specialty chemicals company’s stock valued at $4,456,000 after acquiring an additional 991 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Luther C. Iv Kissam sold 59,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $100.03, for a total transaction of $5,901,770.00. Following the completion of the transaction, the director now directly owns 243,065 shares in the company, valued at $24,313,791.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Luther C. Iv Kissam sold 150,001 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $90.71, for a total value of $13,606,590.71. Following the transaction, the director now owns 225,812 shares of the company’s stock, valued at $20,483,406.52. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

ALB traded up $0.54 during trading on Wednesday, reaching $98.93. The stock had a trading volume of 38,370 shares, compared to its average volume of 783,368. The stock’s 50 day moving average is $90.45 and its two-hundred day moving average is $75.73. The company has a current ratio of 1.61, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 3.51 and a beta of 1.41. Albemarle Co. has a one year low of $48.89 and a one year high of $100.31.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. Albemarle had a return on equity of 13.33% and a net margin of 12.99%. On average, equities research analysts predict that Albemarle Co. will post 3.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 18th will be issued a $0.385 dividend. The ex-dividend date is Thursday, September 17th. This represents a $1.54 dividend on an annualized basis and a yield of 1.56%. Albemarle’s dividend payout ratio (DPR) is 25.50%.

ALB has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Albemarle from $81.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Royal Bank of Canada upped their price target on Albemarle from $70.00 to $80.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Citigroup upped their price target on Albemarle from $78.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Truist Financial upped their price objective on shares of Albemarle from $65.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Finally, KeyCorp cut shares of Albemarle from a “sector weight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research report on Monday, June 22nd. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $78.91.

Albemarle Company Profile

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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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