AMP Capital Investors Ltd lifted its stake in Albemarle Co. (NYSE:ALB) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,300 shares of the specialty chemicals company’s stock after purchasing an additional 5,079 shares during the period. AMP Capital Investors Ltd’s holdings in Albemarle were worth $6,816,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ALB. SeaCrest Wealth Management LLC purchased a new stake in shares of Albemarle in the 4th quarter worth about $103,000. Stephens Inc. AR purchased a new stake in shares of Albemarle in the 4th quarter worth about $115,000. Valeo Financial Advisors LLC purchased a new stake in shares of Albemarle in the 4th quarter worth about $155,000. Renaissance Investment Group LLC purchased a new stake in shares of Albemarle in the 4th quarter worth about $201,000. Finally, Canal Capital Management LLC purchased a new stake in shares of Albemarle in the 4th quarter worth about $205,000. 86.42% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on ALB shares. Morgan Stanley started coverage on shares of Albemarle in a research report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 target price for the company. UBS raised shares of Albemarle from a “neutral” rating to a “buy” rating and raised their target price for the stock from $113.00 to $150.00 in a research report on Tuesday, January 30th. Berenberg Bank started coverage on shares of Albemarle in a research report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 target price for the company. Oppenheimer reissued a “buy” rating on shares of Albemarle in a research report on Wednesday, January 17th. Finally, Robert W. Baird raised shares of Albemarle from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $131.72 to $133.51 in a research report on Monday, January 8th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Albemarle has an average rating of “Buy” and a consensus target price of $128.07.
Shares of Albemarle Co. (NYSE:ALB) opened at $98.37 on Friday. The firm has a market cap of $11,100.35, a PE ratio of 204.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.57 and a current ratio of 2.06. Albemarle Co. has a 12 month low of $90.49 and a 12 month high of $144.99.
Albemarle (NYSE:ALB) last released its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.13. The business had revenue of $857.79 million during the quarter, compared to analyst estimates of $791.46 million. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. equities research analysts predict that Albemarle Co. will post 5.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.335 per share. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently 279.17%.
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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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