California Public Employees Retirement System lifted its holdings in Albemarle Co. (NYSE:ALB) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,148 shares of the specialty chemicals company’s stock after purchasing an additional 11,452 shares during the period. California Public Employees Retirement System owned about 0.22% of Albemarle worth $33,280,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Albemarle by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares during the last quarter. Jennison Associates LLC increased its position in shares of Albemarle by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after acquiring an additional 1,375,546 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Albemarle by 258.1% in the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after acquiring an additional 3,287,989 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Albemarle by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after acquiring an additional 679,453 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Albemarle by 95.3% in the third quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock worth $217,507,000 after acquiring an additional 778,649 shares in the last quarter. 88.10% of the stock is currently owned by institutional investors.
Shares of Albemarle Co. (ALB) opened at $129.57 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The company has a market cap of $14,316.97, a P/E ratio of 32.07, a P/E/G ratio of 1.96 and a beta of 1.69. Albemarle Co. has a fifty-two week low of $85.60 and a fifty-two week high of $144.99.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. analysts anticipate that Albemarle Co. will post 4.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, December 14th. Albemarle’s dividend payout ratio is currently 16.56%.
Several research analysts have recently weighed in on the stock. Jefferies Group lifted their target price on shares of Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Deutsche Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Robert W. Baird reissued a “hold” rating and issued a $135.00 target price on shares of Albemarle in a research report on Wednesday, November 1st. Royal Bank of Canada lifted their target price on shares of Albemarle from $149.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, Nomura lifted their target price on shares of Albemarle to $159.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Albemarle currently has a consensus rating of “Buy” and a consensus target price of $128.45.
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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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