Nomura Asset Management Co. Ltd. Has $56.94 Million Position in Albemarle Corporation $ALB

Key Points

• Nomura Asset Management trimmed its Albemarle stake by 13.1% in the fourth quarter, but still held 402,594 shares valued at about $56.94 million.
• Albemarle saw mixed institutional activity overall, with several firms adding to positions while 92.87% of the stock remains owned by institutional investors and hedge funds.
• The company posted strong quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with a consensus price target of $201.42.

Nomura Asset Management Co. Ltd. reduced its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 402,594 shares of the specialty chemicals company's stock after selling 60,944 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.34% of Albemarle worth $56,943,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Albemarle by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,475,832 shares of the specialty chemicals company's stock worth $119,710,000 after purchasing an additional 52,698 shares during the period. Northern Trust Corp boosted its holdings in shares of Albemarle by 1.8% during the third quarter. Northern Trust Corp now owns 1,263,734 shares of the specialty chemicals company's stock worth $102,464,000 after purchasing an additional 22,856 shares during the period. Norges Bank acquired a new stake in Albemarle in the fourth quarter valued at approximately $165,271,000. Phoenix Financial Ltd. acquired a new stake in Albemarle in the fourth quarter valued at approximately $130,415,000. Finally, Worldquant Millennium Advisors LLC lifted its stake in Albemarle by 60.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 784,083 shares of the specialty chemicals company's stock valued at $49,138,000 after acquiring an additional 296,861 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the transaction, the chief executive officer owned 87,519 shares of the company's stock, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho lifted their target price on shares of Albemarle from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Rothschild & Co Redburn cut shares of Albemarle from a "buy" rating to a "neutral" rating and set a $188.00 target price for the company. in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Albemarle from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. Robert W. Baird lifted their target price on shares of Albemarle from $210.00 to $236.00 in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Albemarle from $195.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $201.42.

Albemarle Trading Down 0.1%

NYSE:ALB opened at $176.26 on Monday. Albemarle Corporation has a 12 month low of $53.70 and a 12 month high of $221.00. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of -51.69, a P/E/G ratio of 0.89 and a beta of 1.31. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $183.76 and its 200-day moving average is $164.18.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted ($0.18) earnings per share. The company's quarterly revenue was up 32.7% compared to the same quarter last year. Equities analysts anticipate that Albemarle Corporation will post 12.39 EPS for the current year.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.9%. Albemarle's dividend payout ratio (DPR) is currently -47.51%.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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