Tyers Asset Management LLC Raises Position in Albemarle Co. (NYSE:ALB)

Tyers Asset Management LLC grew its holdings in shares of Albemarle Co. (NYSE:ALB) by 62.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,658 shares of the specialty chemicals company’s stock after acquiring an additional 7,920 shares during the period. Tyers Asset Management LLC’s holdings in Albemarle were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in Albemarle in the first quarter worth about $25,000. Gemmer Asset Management LLC lifted 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 valued at $25,000 after buying an additional 150 shares in the last quarter. NEXT Financial Group Inc grew its stake 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 valued at $31,000 after acquiring an additional 180 shares during the period. Exane Derivatives bought a new position in shares of Albemarle during the 2nd quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. purchased a new stake in Albemarle in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.

Shares of ALB stock traded up $0.01 during trading hours on Wednesday, hitting $68.29. The stock had a trading volume of 67,708 shares, compared to its average volume of 1,473,765. Albemarle Co. has a one year low of $58.63 and a one year high of $108.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.45 and a quick ratio of 0.87. The stock’s 50-day moving average price is $66.22 and its two-hundred day moving average price is $73.91. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.79 and a beta of 1.64.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.14. The company had revenue of $885.05 million during the quarter, compared to analyst estimates of $893.50 million. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 earnings per share. As a group, equities research analysts predict that Albemarle Co. will post 6.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.3675 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 2.15%. Albemarle’s dividend payout ratio is currently 26.82%.

In other Albemarle news, insider Eric Norris bought 3,090 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $64.66 per share, with a total value of $199,799.40. Following the completion of the acquisition, the insider now owns 164 shares in the company, valued at approximately $10,604.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by corporate insiders.

ALB has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Albemarle from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 28th. SunTrust Banks decreased their price objective on shares of Albemarle from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Berenberg Bank set a $75.00 price target on Albemarle and gave the stock a “hold” rating in a research note on Monday, August 12th. Morgan Stanley decreased their price target on Albemarle from $65.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Finally, Oppenheimer decreased their price target on Albemarle from $157.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.84.

Albemarle Company Profile

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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