UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $50.49 Million Stock Holdings in Albemarle Corporation $ALB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Albemarle Corporation (NYSE:ALB) by 25.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 373,918 shares of the specialty chemicals company’s stock after purchasing an additional 75,934 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Albemarle were worth $50,490,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Addison Advisors LLC bought a new position in shares of Albemarle during the 2nd quarter worth approximately $28,000. Elyxium Wealth LLC bought a new stake in Albemarle in the fourth quarter valued at $34,000. Sound Income Strategies LLC raised its stake in Albemarle by 190.1% during the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company’s stock worth $52,000 after acquiring an additional 192 shares in the last quarter. Root Financial Partners LLC raised its stake in Albemarle by 121.5% during the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 164 shares in the last quarter. Finally, Dakota Community Bank & Trust NA bought a new position in shares of Albemarle during the first quarter valued at $54,000. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Citigroup reduced their target price on Albemarle from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada decreased their price target on Albemarle from $166.00 to $157.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Wall Street Zen cut Albemarle from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group cut their price objective on Albemarle from $244.00 to $211.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Fifteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.04.

Albemarle Stock Up 1.6%

Shares of ALB stock opened at $137.65 on Thursday. The firm has a fifty day moving average of $128.35 and a 200-day moving average of $159.04. Albemarle Corporation has a 12-month low of $71.25 and a 12-month high of $221.00. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 509.83, a P/E/G ratio of 0.79 and a beta of 1.33. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.22.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, equities research analysts predict that Albemarle Corporation will post 11.39 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, September 11th. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. This represents a $1.64 dividend on an annualized basis and a yield of 1.2%. Albemarle’s dividend payout ratio is presently 600.00%.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.