AMP Capital Investors Ltd boosted its holdings in shares of Albemarle Co. (NYSE:ALB) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,300 shares of the specialty chemicals company’s stock after buying 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 filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Ark Investment Management LLC raised its holdings in Albemarle by 104.6% in the 2nd quarter. Ark Investment Management LLC now owns 6,368 shares of the specialty chemicals company’s stock worth $672,000 after purchasing an additional 3,255 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Albemarle by 25.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,495 shares of the specialty chemicals company’s stock worth $3,339,000 after purchasing an additional 4,903 shares during the period. Toronto Dominion Bank raised its holdings in Albemarle by 15.9% in the 3rd quarter. Toronto Dominion Bank now owns 43,541 shares of the specialty chemicals company’s stock worth $5,935,000 after purchasing an additional 5,976 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Albemarle in the 3rd quarter worth about $1,360,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Albemarle by 5.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,415 shares of the specialty chemicals company’s stock valued at $3,873,000 after acquiring an additional 1,508 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.
Shares of ALB traded down $3.97 during midday trading on Friday, reaching $91.80. 2,707,922 shares of the stock were exchanged, compared to its average volume of 1,848,695. 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 twelve month low of $86.75 and a twelve month high of $144.99. The stock has a market capitalization of $10,156.57, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.66.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.13. Albemarle had a return on equity of 13.27% and a net margin of 1.79%. The firm had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million. equities research analysts forecast that Albemarle Co. will post 5.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.
ALB has been the subject of several recent research reports. Berenberg Bank initiated coverage on Albemarle in a report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 price target for the company. SunTrust Banks increased their price target on Albemarle to $110.00 and gave the company a “hold” rating in a report on Thursday, March 1st. Argus cut their price target on Albemarle from $148.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, March 27th. Loop Capital set a $130.00 price objective on Albemarle and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, Nomura lowered their price objective on Albemarle from $161.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $127.02.
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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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