ProShare Advisors LLC Boosts Holdings in Albemarle Co. (NYSE:ALB)

ProShare Advisors LLC increased its stake in shares of Albemarle Co. (NYSE:ALBGet Rating) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 766,780 shares of the specialty chemicals company’s stock after acquiring an additional 102,129 shares during the quarter. ProShare Advisors LLC’s holdings in Albemarle were worth $169,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Albemarle in the 4th quarter valued at about $185,328,000. Marshall Wace LLP lifted its stake in Albemarle by 938.1% in the fourth quarter. Marshall Wace LLP now owns 402,597 shares of the specialty chemicals company’s stock valued at $94,115,000 after buying an additional 363,816 shares during the last quarter. AGF Investments Inc. boosted its holdings in shares of Albemarle by 23.8% in the first quarter. AGF Investments Inc. now owns 651,545 shares of the specialty chemicals company’s stock valued at $144,089,000 after acquiring an additional 125,113 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in shares of Albemarle during the fourth quarter worth approximately $29,146,000. Finally, Invesco Ltd. increased its holdings in shares of Albemarle by 12.3% in the 4th quarter. Invesco Ltd. now owns 1,091,953 shares of the specialty chemicals company’s stock valued at $255,266,000 after acquiring an additional 119,892 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Albemarle Price Performance

NYSE ALB traded down $4.12 during mid-day trading on Wednesday, hitting $276.69. The stock had a trading volume of 21,496 shares, compared to its average volume of 1,232,120. The company has a 50 day simple moving average of $225.49 and a 200 day simple moving average of $218.54. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 126.49, a P/E/G ratio of 0.42 and a beta of 1.58. Albemarle Co. has a 52-week low of $169.93 and a 52-week high of $291.48. The company has a quick ratio of 1.20, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Albemarle (NYSE:ALBGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.66. Albemarle had a return on equity of 15.39% and a net margin of 6.08%. During the same period in the previous year, the company earned $0.89 earnings per share. Equities analysts forecast that Albemarle Co. will post 21.36 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 16th will be issued a $0.395 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.58 dividend on an annualized basis and a yield of 0.57%. Albemarle’s dividend payout ratio (DPR) is 71.17%.

Wall Street Analyst Weigh In

ALB has been the subject of a number of recent research reports. Citigroup increased their price target on shares of Albemarle to $294.00 in a research note on Tuesday, August 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $290.00 price objective on shares of Albemarle in a research report on Monday, May 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Albemarle from $255.00 to $270.00 in a research note on Monday, August 8th. Wells Fargo & Company upped their price target on Albemarle from $285.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 24th. Finally, UBS Group lifted their price objective on shares of Albemarle from $218.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Albemarle presently has a consensus rating of “Moderate Buy” and an average price target of $279.05.

About Albemarle

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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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