10 15 Associates Inc. Boosts Position in Albemarle Co. (ALB)

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10 15 Associates Inc. boosted its holdings in Albemarle Co. (NYSE:ALB) by 11.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 20,800 shares of the specialty chemicals company’s stock after buying an additional 2,080 shares during the period. 10 15 Associates Inc.’s holdings in Albemarle were worth $1,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dupont Capital Management Corp grew its position in Albemarle by 81.6% in the first quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock valued at $126,000 after acquiring an additional 610 shares in the last quarter. Point72 Asia Hong Kong Ltd grew its position in Albemarle by 145.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,669 shares of the specialty chemicals company’s stock valued at $155,000 after acquiring an additional 989 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Albemarle by 145.9% in the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after acquiring an additional 1,004 shares in the last quarter. Tiverton Asset Management LLC grew its position in Albemarle by 53.5% in the first quarter. Tiverton Asset Management LLC now owns 1,997 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 696 shares in the last quarter. Finally, IBM Retirement Fund grew its position in Albemarle by 45.6% in the first quarter. IBM Retirement Fund now owns 2,428 shares of the specialty chemicals company’s stock valued at $225,000 after acquiring an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 89.59% of the company’s stock.

ALB stock opened at $95.44 on Monday. Albemarle Co. has a twelve month low of $86.75 and a twelve month high of $144.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55. The company has a market cap of $10.68 billion, a PE ratio of 20.79, a P/E/G ratio of 1.29 and a beta of 1.65.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. The business had revenue of $853.87 million during the quarter, compared to the consensus estimate of $799.49 million. analysts anticipate that Albemarle Co. will post 5.37 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, September 13th. Albemarle’s payout ratio is currently 29.19%.

ALB has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. Goldman Sachs Group raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, July 3rd. ValuEngine downgraded shares of Albemarle from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Bank of America initiated coverage on shares of Albemarle in a research report on Monday, June 25th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, TheStreet raised shares of Albemarle from a “c+” rating to a “b” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the stock. Albemarle currently has a consensus rating of “Buy” and an average price target of $131.71.

About Albemarle

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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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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