Private Advisor Group LLC increased its position in Albemarle Co. (NYSE:ALB) by 31.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,043 shares of the specialty chemicals company’s stock after purchasing an additional 1,211 shares during the quarter. Private Advisor Group LLC’s holdings in Albemarle were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in ALB. Oppenheimer Asset Management Inc. raised its holdings in Albemarle by 7.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,398 shares of the specialty chemicals company’s stock valued at $698,000 after acquiring an additional 535 shares in the last quarter. ING Groep NV raised its holdings in Albemarle by 15.0% in the second quarter. ING Groep NV now owns 4,261 shares of the specialty chemicals company’s stock valued at $402,000 after acquiring an additional 556 shares in the last quarter. Arizona State Retirement System raised its holdings in Albemarle by 1.1% in the third quarter. Arizona State Retirement System now owns 49,921 shares of the specialty chemicals company’s stock valued at $4,981,000 after acquiring an additional 562 shares in the last quarter. Rothschild Investment Corp IL raised its holdings in Albemarle by 0.8% in the third quarter. Rothschild Investment Corp IL now owns 77,102 shares of the specialty chemicals company’s stock valued at $7,693,000 after acquiring an additional 580 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in Albemarle by 19.7% in the second quarter. Cornerstone Advisors Inc. now owns 3,730 shares of the specialty chemicals company’s stock valued at $352,000 after acquiring an additional 614 shares in the last quarter. Institutional investors and hedge funds own 93.70% of the company’s stock.
Several analysts recently issued reports on the stock. Loop Capital set a $130.00 price target on shares of Albemarle and gave the company a “buy” rating in a report on Friday, October 19th. ValuEngine cut shares of Albemarle from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Vertical Research assumed coverage on shares of Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Vertical Group assumed coverage on shares of Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Finally, Berenberg Bank set a $130.00 price target on shares of Albemarle and gave the company a “buy” rating in a report on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $123.08.
Shares of NYSE:ALB opened at $96.77 on Friday. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.25 and a beta of 1.53. Albemarle Co. has a 1-year low of $86.75 and a 1-year high of $138.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.83.
Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. The company had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $796.79 million. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. As a group, equities research analysts anticipate that Albemarle Co. will post 5.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.335 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.38%. Albemarle’s dividend payout ratio (DPR) is 29.19%.
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Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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