Robecosam AG reduced its position in Albemarle Co. (NYSE:ALB) by 49.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 340,000 shares of the specialty chemicals company’s stock after selling 337,500 shares during the quarter. Robecosam AG owned about 0.32% of Albemarle worth $23,637,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wilbanks Smith & Thomas Asset Management LLC grew its stake in shares of Albemarle by 3.2% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,729 shares of the specialty chemicals company’s stock worth $388,000 after purchasing an additional 146 shares during the period. Gemmer Asset Management LLC grew its stake 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 worth $25,000 after purchasing an additional 150 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Albemarle by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,283 shares of the specialty chemicals company’s stock worth $925,000 after purchasing an additional 160 shares during the period. Retirement Systems of Alabama grew its stake in shares of Albemarle by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 49,415 shares of the specialty chemicals company’s stock worth $3,479,000 after purchasing an additional 171 shares during the period. Finally, Wealthstreet Investment Advisors LLC grew its stake in shares of Albemarle by 3.8% during the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 4,800 shares of the specialty chemicals company’s stock worth $338,000 after purchasing an additional 175 shares during the period. 89.43% of the stock is currently owned by institutional investors.
ALB has been the topic of a number of recent analyst reports. SunTrust Banks lowered their price target on shares of Albemarle from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp reaffirmed an “overweight” rating and set a $94.00 price target (down from $100.00) on shares of Albemarle in a research note on Tuesday, July 9th. Loop Capital lowered their price target on shares of Albemarle to $108.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. TheStreet cut shares of Albemarle from a “b-” rating to a “c+” rating in a research note on Monday, May 20th. Finally, ValuEngine raised shares of Albemarle from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Albemarle presently has an average rating of “Hold” and an average price target of $95.81.
NYSE ALB traded up $1.35 during trading hours on Tuesday, reaching $68.73. The company’s stock had a trading volume of 90,918 shares, compared to its average volume of 1,513,895. The company has a market cap of $7.45 billion, a PE ratio of 12.55, a PEG ratio of 0.72 and a beta of 1.59. Albemarle Co. has a fifty-two week low of $63.10 and a fifty-two week high of $108.74. The business’s 50-day moving average price is $71.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 1.45.
Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.14. The company had revenue of $885.05 million for the quarter, compared to analyst estimates of $893.50 million. Albemarle had a net margin of 16.01% and a return on equity of 15.71%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 EPS. As a group, equities research analysts forecast that Albemarle Co. will post 6.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.47 dividend on an annualized basis and a yield of 2.14%. Albemarle’s dividend payout ratio (DPR) is 26.82%.
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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