Personal Capital Advisors Corp bought a new position in shares of Albemarle Co. (NYSE:ALB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 183,656 shares of the specialty chemicals company’s stock, valued at approximately $17,032,000. Personal Capital Advisors Corp owned approximately 0.17% of Albemarle as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new stake in Albemarle during the fourth quarter worth $103,000. Stephens Inc. AR purchased a new stake in Albemarle during the fourth quarter worth $115,000. Banco de Sabadell S.A purchased a new stake in Albemarle during the fourth quarter worth $133,000. Valeo Financial Advisors LLC purchased a new stake in Albemarle during the fourth quarter worth $155,000. Finally, Dupont Capital Management Corp boosted its position in Albemarle by 81.6% during the first quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after purchasing an additional 610 shares in the last quarter. Institutional investors own 86.34% of the company’s stock.
ALB has been the topic of a number of research analyst reports. Argus decreased their target price on Albemarle from $148.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Citigroup decreased their target price on Albemarle from $112.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 10th. Berenberg Bank initiated coverage on Albemarle in a research report on Tuesday, February 27th. They set a “buy” rating and a $150.00 target price on the stock. Zacks Investment Research downgraded Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $130.00 price objective (down from $160.00) on shares of Albemarle in a research report on Friday, March 2nd. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $124.71.
ALB stock opened at $102.34 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.48 and a debt-to-equity ratio of 0.36. Albemarle Co. has a 1 year low of $86.75 and a 1 year high of $144.99. The stock has a market capitalization of $11.53 billion, a PE ratio of 22.30, a P/E/G ratio of 1.22 and a beta of 1.67.
Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, May 9th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.10. The business had revenue of $821.60 million during the quarter, compared to analyst estimates of $798.20 million. Albemarle had a return on equity of 13.80% and a net margin of 4.27%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. equities analysts predict that Albemarle Co. will post 5.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, June 14th. Albemarle’s dividend payout ratio is currently 29.19%.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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