In the market the company is trading up from yesterday’s close of $112.95. Shares last traded at $116.86 slightly over $110.26, the stock’s 50 day moving average and a tad higher than the 200 day moving average of $101.62. The 50 day moving average was up by +6.00% and the 200 day average went up by +15.01%.
Albemarle Corporation (NYSE:ALB) has been the object of insider selling activity recently. EVP Karen G. Narwold let go of 20,000 shares at an average price of $108.16 on June 19th. Narwold now owns $2,716,979 of stock as reported to the SEC. EVP Karen G. Narwold sold 945 shares at an average price of $103.43 on Thu the 2nd. That brings the EVP’s holdings to $2,598,162 per an SEC filing yesterday.
Chairman Luther C. Iv Kissam disclosed the sale of 4,929 shares of (ALB). The shares were purchased at an average price of $103.60. Kissam now owns $21,022,201 of the stock per the Form 4 SEC filing.
Albemarle Corporation, launched on November 24, 1993, is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consists of two product categories: Lithium and Performance Catalyst Solutions. The bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Company serves various end markets, including petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety and custom chemistry services..
The following firms have also recently changed their position in ALB. Piedmont Investment Advisors LLC added to its investment by buying 3 shares an increase of 0.0% as of 03/31/2017. Piedmont Investment Advisors LLC now holds 7,419 shares worth $784,000. The total value of its holdings increased 22.9%. As of quarter end Proficio Capital Partners LLC had sold 150 shares trimming its position 46.0%. The value of the investment in Albemarle Corporation decreased from $28,000 to $20,000 a change of 28.6% quarter to quarter.
Morgan Stanley grew its holdings by buying 5,549 shares an increase of 89.6%. Morgan Stanley controls 11,739 shares with a value of $1,240,000. The value of the position overall is up by 132.6%. As of the end of the quarter Tower Research Capital LLC (trc) had disposed of a total of 2,835 shares trimming its stake by 93.9%. The value of the total investment in Albemarle Corporation went from $260,000 to $19,000 a change of $241,000 for the reporting period.
On July 15 Citigroup held the stock rating at “Buy” and moved up the price target from $89.00 to $101.00. May 12 investment analysts at Jefferies held the company rating at “Buy” but moved up the price target to $89.00 from $65.00.
May 12 investment analysts at Deutsche Bank left the stock rating at “Buy” but raised the price target from $72.00 to $89.00. May 12 investment analysts at Citigroup maintained a company rating of “Buy” and raised the price target to $89.00 from $76.00.
April 18 investment analysts at Citigroup made no change to the stock rating of “Buy” but raised the price expectation from $65.00 to $76.00. April 1 investment analysts at Deutsche Bank kept the stock rating at “Buy” and raised the price expectation to $72.00 from $62.00.
Albemarle Corporation also recently announced a dividend paid on Monday July 3rd, 2017. The dividend was $0.320 per share for the quarter or $1.28 annualized. The dividend yield was $1.16. The ex-dividend date was Tuesday the 13th of June 2017.
The P/E ratio is 28.40 and the market cap is 12.94B. In the last earnings report the EPS was $4.11 and is estimated to be $4.36 for the current year with 110,752,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $1.12 with next year’s EPS projected to be $5.04.