Motco Takes Position in Albemarle Co. (ALB)

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Motco purchased a new stake in shares of Albemarle Co. (NYSE:ALB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,469 shares of the specialty chemicals company’s stock, valued at approximately $3,912,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALB. Baillie Gifford & Co. raised its position in Albemarle by 1,220.5% during the second quarter. Baillie Gifford & Co. now owns 2,617,349 shares of the specialty chemicals company’s stock valued at $246,894,000 after purchasing an additional 2,419,144 shares in the last quarter. Jennison Associates LLC raised its position in Albemarle by 21.4% during the second quarter. Jennison Associates LLC now owns 7,330,974 shares of the specialty chemicals company’s stock valued at $691,531,000 after purchasing an additional 1,290,510 shares in the last quarter. Carmignac Gestion purchased a new stake in Albemarle during the first quarter valued at about $113,591,000. Iridian Asset Management LLC CT raised its position in Albemarle by 43.6% during the first quarter. Iridian Asset Management LLC CT now owns 1,985,826 shares of the specialty chemicals company’s stock valued at $184,166,000 after purchasing an additional 602,784 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Albemarle by 334.1% during the first quarter. Principal Financial Group Inc. now owns 741,798 shares of the specialty chemicals company’s stock valued at $68,795,000 after purchasing an additional 570,899 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Shares of NYSE:ALB opened at $95.54 on Tuesday. Albemarle Co. has a 12-month low of $86.75 and a 12-month high of $144.99. The stock has a market cap of $10.35 billion, a PE ratio of 20.81, a P/E/G ratio of 1.25 and a beta of 1.65. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a $0.335 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.34 annualized dividend and a dividend yield of 1.40%. Albemarle’s payout ratio is presently 29.19%.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Albemarle from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Vertical Group upgraded Albemarle from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. ValuEngine downgraded Albemarle from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. Finally, Nomura lowered their price target on Albemarle to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $131.71.

Albemarle Company Profile

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.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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