Albemarle Co. (ALB) Position Lifted by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. boosted its position in Albemarle Co. (NYSE:ALB) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,430 shares of the specialty chemicals company’s stock after acquiring an additional 354 shares during the quarter. Asset Management One Co. Ltd. owned 0.16% of Albemarle worth $24,269,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ALB. Scotia Capital Inc. boosted its position in Albemarle by 0.5% in the second quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. boosted its position in Albemarle by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock valued at $486,000 after buying an additional 12 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Albemarle by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 20 shares in the last quarter. New Amsterdam Partners LLC NY boosted its position in Albemarle by 0.8% in the second quarter. New Amsterdam Partners LLC NY now owns 5,382 shares of the specialty chemicals company’s stock valued at $568,000 after buying an additional 41 shares in the last quarter. Finally, Bienville Capital Management LLC boosted its position in Albemarle by 0.7% in the second quarter. Bienville Capital Management LLC now owns 6,750 shares of the specialty chemicals company’s stock valued at $715,000 after buying an additional 45 shares in the last quarter. 88.10% of the stock is currently owned by institutional investors and hedge funds.
ALB has been the topic of a number of research analyst reports. KeyCorp restated a “buy” rating and issued a $125.00 target price on shares of Albemarle in a research report on Sunday, September 3rd. Oppenheimer assumed coverage on shares of Albemarle in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $133.00 target price on the stock. Robert W. Baird reiterated a “hold” rating and set a $135.00 price target on shares of Albemarle in a report on Wednesday, November 1st. Instinet lifted their price target on shares of Albemarle from $134.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Finally, Jefferies Group lifted their price target on shares of Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Albemarle currently has an average rating of “Buy” and an average price target of $128.45.
Albemarle Co. (NYSE ALB) opened at $131.14 on Tuesday. The stock has a market cap of $14,430.73, a price-to-earnings ratio of 32.33, a P/E/G ratio of 1.98 and a beta of 1.69. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. Albemarle Co. has a fifty-two week low of $85.60 and a fifty-two week high of $144.99.
Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. Albemarle’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. equities analysts expect that Albemarle Co. will post 4.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 annualized dividend and a yield of 0.98%. Albemarle’s payout ratio is 16.56%.
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Albemarle Company Profile
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.
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