Todays Report: Today, Public Employees Retirement Association of Colorado Reduces Position in Albemarle Corp. (ALB)

Today, Public Employees Retirement Association of Colorado Reduces Position in Albemarle Corp. (ALB)

Public Employees Retirement Association of Colorado cut its position in shares of Albemarle Corp. (NYSE:ALB) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,787 shares of the company’s stock after selling 702 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Albemarle Corp. were worth $2,119,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ALB. Capstone Asset Management Co. raised its position in Albemarle Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 11,458 shares of the company’s stock worth $909,000 after buying an additional 250 shares in the last quarter. Naples Global Advisors LLC raised its position in Albemarle Corp. by 1.3% in the second quarter. Naples Global Advisors LLC now owns 16,080 shares of the company’s stock worth $1,275,000 after buying an additional 208 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in Albemarle Corp. during the second quarter worth approximately $801,000. Benjamin F. Edwards & Company Inc. raised its position in Albemarle Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,438 shares of the company’s stock worth $114,000 after buying an additional 7 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX acquired a new position in Albemarle Corp. during the second quarter worth approximately $2,305,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Albemarle Corp. (NYSE:ALB) traded up 0.14% on Friday, hitting $84.00. 200,210 shares of the stock were exchanged. Albemarle Corp. has a one year low of $45.78 and a one year high of $87.29. The firm’s 50 day moving average price is $82.28 and its 200 day moving average price is $81.42. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 43.98 and a beta of 1.52.

Albemarle Corp. (NYSE:ALB) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.10. Albemarle Corp. had a net margin of 6.92% and a return on equity of 14.38%. The firm had revenue of $654 million for the quarter, compared to the consensus estimate of $645.81 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Albemarle Corp. will post $3.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.305 per share. The ex-dividend date is Tuesday, December 13th. This represents a $1.22 dividend on an annualized basis and a yield of 1.45%. Albemarle Corp.’s dividend payout ratio (DPR) is 63.54%.

A number of research analysts have commented on ALB shares. Deutsche Bank AG lifted their price objective on shares of Albemarle Corp. from $94.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research lowered shares of Albemarle Corp. from a “hold” rating to a “strong sell” rating in a research note on Monday, August 8th. Citigroup Inc. lifted their price objective on shares of Albemarle Corp. from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Finally, Nomura set a $92.00 price objective on shares of Albemarle Corp. and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $80.60.

About Albemarle Corp.

Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing.

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