Stone Ridge Asset Management LLC bought a new position in shares of Albemarle Co. (NYSE:ALB) in the fourth quarter, HoldingsChannel reports. The firm bought 3,201 shares of the specialty chemicals company’s stock, valued at approximately $409,000.
A number of other institutional investors also recently bought and sold shares of ALB. Oppenheimer & Co. Inc. purchased a new stake in shares of Albemarle during the 3rd quarter valued at $409,000. Legal & General Group Plc lifted its holdings in shares of Albemarle by 6.7% during the 3rd quarter. Legal & General Group Plc now owns 580,347 shares of the specialty chemicals company’s stock valued at $79,100,000 after purchasing an additional 36,342 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Albemarle by 113.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 975,732 shares of the specialty chemicals company’s stock valued at $129,109,000 after purchasing an additional 518,990 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Albemarle by 9.2% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,984 shares of the specialty chemicals company’s stock valued at $1,225,000 after purchasing an additional 756 shares during the last quarter. Finally, Sii Investments Inc. WI purchased a new stake in shares of Albemarle during the 3rd quarter valued at $230,000. Institutional investors own 86.38% of the company’s stock.
Several analysts have recently commented on ALB shares. UBS upgraded Albemarle from a “neutral” rating to a “buy” rating and increased their price objective for the company from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group decreased their price objective on Albemarle to $150.00 and set a “buy” rating for the company in a report on Friday, January 19th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Loop Capital set a $150.00 price objective on Albemarle and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Argus started coverage on Albemarle in a report on Friday, February 23rd. They set a “buy” rating and a $148.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $127.02.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.13. The company had revenue of $857.79 million for the quarter, compared to the consensus estimate of $791.46 million. Albemarle had a return on equity of 13.27% and a net margin of 1.79%. analysts forecast that Albemarle Co. will post 5.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.335 per share. This is an increase from Albemarle’s previous quarterly dividend of $0.32. This represents a $1.34 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.
Albemarle Corporation 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 consist of two product categories: Lithium and Performance Catalyst Solutions.
Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB).
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.