Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 9.32MM shares of Albemarle Corporation (ALB). This represents 8.0% of the company.
In their previous filing dated February 1, 2022 they reported 9.12MM shares and 7.80% of the company, an increase in shares of 2.20% and an increase in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 5.66% Upside
As of February 2, 2023, the average one-year price target for Albemarle is $306.58. The forecasts range from a low of $156.55 to a high of $484.05. The average price target represents an increase of 5.66% from its latest reported closing price of $290.15.
The projected annual revenue for Albemarle is $10,248MM, an increase of 83.22%. The projected annual EPS is $28.21, an increase of 112.63%.
Fund Sentiment
There are 1718 funds or institutions reporting positions in Albemarle. This is an increase of 64 owner(s) or 3.87%.
Average portfolio weight of all funds dedicated to US:ALB is 0.3745%, an increase of 5.3737%. Total shares owned by institutions increased in the last three months by 1.74% to 114,690K shares.
What are large shareholders doing?
Capital International Investors holds 4,902,786 shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 3,322,014 shares, representing an increase of 32.24%. The firm increased its portfolio allocation in ALB by 100.26% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,492,350 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 3,448,396 shares, representing an increase of 1.26%. The firm increased its portfolio allocation in ALB by 33.58% over the last quarter.
Capital Research Global Investors holds 2,967,702 shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 2,565,241 shares, representing an increase of 13.56%. The firm increased its portfolio allocation in ALB by 54.41% over the last quarter.
Franklin Resources holds 2,948,491 shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 3,842,719 shares, representing a decrease of 30.33%. The firm increased its portfolio allocation in ALB by 6.69% over the last quarter.
Baillie Gifford & holds 2,704,716 shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 3,215,017 shares, representing a decrease of 18.87%. The firm decreased its portfolio allocation in ALB by 74.08% over the last quarter.
Albemarle Declares $0.40 Dividend
Albemarle said on October 24, 2022 that its board of directors declared a regular quarterly dividend of $0.40 per share ($1.58 annualized). Shareholders of record as of December 15, 2022 received the payment on January 3, 2023. Previously, the company paid $0.40 per share.
At the current share price of $290.15 / share, the stock's dividend yield is 0.54%. Looking back five years and taking a sample every week, the average dividend yield has been 1.36%, the lowest has been 0.50%, and the highest has been 3.03%. The standard deviation of yields is 0.60 (n=237).
The current dividend yield is 1.35 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.
Albemarle Background Information
(This description is provided by the company.)
Albemarle Corporation, headquartered in Charlotte, N.C., is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. Albemarle Corporation actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, the company creates value-added and performance-based solutions that enable a safer and more sustainable future.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
