APG Asset Management N.V. Has $59.43 Million Stake in Albemarle Co. (NYSE:ALB)

APG Asset Management N.V. reduced its stake in shares of Albemarle Co. (NYSE:ALB) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,346 shares of the specialty chemicals company’s stock after selling 8,466 shares during the quarter. APG Asset Management N.V. owned 0.36% of Albemarle worth $59,427,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Knuff & Co LLC bought a new position in Albemarle in the second quarter valued at about $25,000. Bedel Financial Consulting Inc. bought a new stake in shares of Albemarle in the second quarter worth about $27,000. TCI Wealth Advisors Inc. grew its holdings in shares of Albemarle by 43.0% during the second quarter. TCI Wealth Advisors Inc. now owns 173 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Albemarle during the second quarter valued at approximately $30,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Albemarle by 360.0% in the second quarter. Parkside Financial Bank & Trust now owns 184 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 144 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

ALB opened at $223.66 on Thursday. The company has a market cap of $26.16 billion, a PE ratio of 36.25, a P/E/G ratio of 4.50 and a beta of 1.57. The business has a 50 day moving average price of $227.77 and a two-hundred day moving average price of $188.82. Albemarle Co. has a 52 week low of $90.07 and a 52 week high of $253.10. The company has a quick ratio of 1.44, a current ratio of 2.18 and a debt-to-equity ratio of 0.32.

Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, August 3rd. The specialty chemicals company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The firm had revenue of $773.90 million for the quarter, compared to analysts’ expectations of $787.72 million. Albemarle had a return on equity of 8.92% and a net margin of 21.78%. Albemarle’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, sell-side analysts expect that Albemarle Co. will post 3.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 17th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, September 16th. Albemarle’s payout ratio is currently 37.86%.

In related news, EVP Karen G. Narwold sold 10,000 shares of Albemarle stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $216.12, for a total value of $2,161,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raphael Goszcz Crawford sold 9,521 shares of Albemarle stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $240.41, for a total value of $2,288,943.61. Following the completion of the transaction, the insider now owns 22,340 shares of the company’s stock, valued at $5,370,759.40. The disclosure for this sale can be found here. Insiders sold 23,533 shares of company stock worth $5,373,487 in the last quarter. 0.63% of the stock is owned by insiders.

A number of research firms recently commented on ALB. Wells Fargo & Company boosted their price target on Albemarle from $225.00 to $270.00 and gave the company an “equal weight” rating in a research note on Monday, September 13th. Royal Bank of Canada upped their target price on Albemarle from $218.00 to $246.00 and gave the company a “sector perform” rating in a report on Monday, September 13th. Bank of America boosted their price target on Albemarle from $121.00 to $140.00 and gave the company an “underperform” rating in a research note on Friday, August 6th. They noted that the move was a valuation call. Mizuho started coverage on Albemarle in a research report on Tuesday. They set a “neutral” rating and a $247.00 target price on the stock. Finally, Berenberg Bank upgraded Albemarle from a “sell” rating to a “buy” rating and upped their price target for the stock from $115.00 to $280.00 in a report on Wednesday, September 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $211.55.

Albemarle Company Profile

Albemarle Corp. engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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