It is trading at $116.54 barely above the 50 day moving average of $110.26 and which is marginally over the 200 day moving average of $101.62. The 50 day moving average moved up $6.28 and the 200 day average was up $14.92. Trading was heavy with 2,115K shares changing hands by the end of trading on Thursday. Overall, volume was up 82.34% over the stocks normal daily volume.
Here is the rundown on market activity for Albemarle Corporation (NYSE:ALB). Karen G. Narwold, EVP sold $2,163,200 worth of shares at an average price of $108.16 on Mon the 19th. That brings Narwold’s holdings to $2,716,979 per an SEC filing yesterday. Karen G. Narwold, EVP sold $97,741 worth of shares at an average price of $103.43 on Thu the 2nd. That brings the EVP’s holdings to $2,598,162 as reported to the SEC.
Chairman Luther C. Iv Kissam sold 4,929 shares at an average price of $103.60 on March 2nd. The Chairman now owns $21,022,201 of the stock as recorded in a recent Form 4 SEC filing.
Here are a few additional firms who have increased or decreased their stake in (ALB). As of the end of the quarter Piedmont Investment Advisors LLC had acquired a total of 3 shares growing its position 0.0%. The value of the total investment in Albemarle Corporation went from $638,000 to $784,000 a change of $146,000 quarter to quarter. As of quarter end Proficio Capital Partners LLC had sold 150 shares trimming its holdings by 46.0%. The value of the company’s investment in Albemarle Corporation decreased from $28,000 to $20,000 decreasing 28.6% for the reporting period.
Morgan Stanley grew its position by buying 5,549 shares an increase of 89.6% as of 03/31/2017. Morgan Stanley now holds 11,739 shares worth $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 2,835 shares trimming its stake by 93.9%. The value of the investment in ALB decreased from $260,000 to $19,000 a change of 92.7% quarter over quarter.
July 15 investment analysts at Citigroup left the company rating at “Buy” but raised the price expectation to $101.00 from $89.00. On May 12 Deutsche Bank maintained a company rating of “Buy” and raised the price target from $72.00 to $89.00.
On May 12 Citigroup kept the stock rating at “Buy” but moved up the price target from $76.00 to $89.00. May 12 investment analysts at Jefferies held the stock rating at “Buy” and raised the price expectation to $89.00 from $65.00.
On April 18 Citigroup made no change to the stock rating of “Buy” and moved up the price target from $65.00 to $76.00. On April 1 Deutsche Bank kept the company rating at “Buy” but raised the price target from $62.00 to $72.00.
The company is trading up by 3.18 percent from yesterday’s close. Albemarle Corporation declared a dividend that was paid on Monday the 3rd of July 2017. The dividend was $0.320 per share for the quarter which is $1.28 annualized. The dividend yield was $1.15. The ex-dividend date was set for Tuesday the 13th of June 2017.
Albemarle Corporation’s P/E ratio is 28.32 and market capitalization is 12.91B. In the last earnings report the EPS was $4.11 and is expected to be $4.36 for the current year with 110,752,000 shares outstanding. Next quarter’s EPS is forecasted at $1.12 with next year’s EPS projected to be $5.04.
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..