Nikko Asset Management Americas Inc. Boosts Holdings in Albemarle Co. (NYSE:ALB)

Nikko Asset Management Americas Inc. boosted its position in Albemarle Co. (NYSE:ALB) by 8.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 62,332 shares of the specialty chemicals company’s stock after buying an additional 4,671 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Albemarle were worth $4,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ALB. Icon Wealth Partners LLC purchased a new stake in shares of Albemarle during the 1st quarter worth $25,000. Gemmer Asset Management LLC boosted its position in shares of Albemarle by 71.1% during the 2nd quarter. Gemmer Asset Management LLC now owns 361 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Albemarle by 125.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 360 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Albemarle by 71.1% during the 2nd quarter. NEXT Financial Group Inc now owns 433 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 180 shares in the last quarter. Finally, Exane Derivatives purchased a new stake in shares of Albemarle during the 2nd quarter worth $32,000. Institutional investors own 90.13% of the company’s stock.

In other news, SVP Deeanne J. Marlow bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $70.85 per share, with a total value of $70,850.00. Following the purchase, the senior vice president now owns 1,000 shares of the company’s stock, valued at approximately $70,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.

ALB has been the topic of several research analyst reports. TheStreet lowered shares of Albemarle from a “b-” rating to a “c+” rating in a research report on Monday, May 20th. Nomura boosted their target price on shares of Albemarle from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday. SunTrust Banks decreased their target price on shares of Albemarle from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday. ValuEngine upgraded shares of Albemarle from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, Jefferies Financial Group decreased their target price on shares of Albemarle from $114.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $95.98.

Shares of NYSE:ALB traded down $3.24 during midday trading on Friday, hitting $70.25. 2,093,032 shares of the stock were exchanged, compared to its average volume of 1,289,545. The company has a market capitalization of $7.44 billion, a PE ratio of 12.82, a P/E/G ratio of 0.71 and a beta of 1.59. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. Albemarle Co. has a twelve month low of $63.10 and a twelve month high of $108.74. The firm has a 50 day simple moving average of $71.12.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.14. The business had revenue of $885.05 million during the quarter, compared to the consensus estimate of $893.50 million. Albemarle had a return on equity of 15.93% and a net margin of 16.01%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, sell-side analysts anticipate that Albemarle Co. will post 6.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 12th. Albemarle’s dividend payout ratio (DPR) is presently 26.82%.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, 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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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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