Standard Life Aberdeen plc raised its position in Albemarle Co. (NYSE:ALB) by 32.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,866 shares of the specialty chemicals company’s stock after acquiring an additional 6,285 shares during the period. Standard Life Aberdeen plc’s holdings in Albemarle were worth $2,440,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. ETRADE Capital Management LLC lifted its stake in shares of Albemarle by 26.3% in the 1st quarter. ETRADE Capital Management LLC now owns 2,743 shares of the specialty chemicals company’s stock worth $254,000 after acquiring an additional 571 shares during the period. Dupont Capital Management Corp lifted its stake in shares of Albemarle by 81.6% in the 1st quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 610 shares during the period. Cornerstone Advisors Inc. lifted its stake in shares of Albemarle by 19.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,730 shares of the specialty chemicals company’s stock worth $352,000 after acquiring an additional 614 shares during the period. Wealthstreet Investment Advisors LLC lifted its stake in shares of Albemarle by 10.6% in the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 6,775 shares of the specialty chemicals company’s stock worth $639,000 after acquiring an additional 650 shares during the period. Finally, Stanley Laman Group Ltd. lifted its stake in shares of Albemarle by 11.9% in the 2nd quarter. Stanley Laman Group Ltd. now owns 6,189 shares of the specialty chemicals company’s stock worth $584,000 after acquiring an additional 657 shares during the period. Institutional investors own 90.63% of the company’s stock.
Shares of ALB opened at $97.19 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.19 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $10.59 billion, a PE ratio of 21.17, a P/E/G ratio of 1.27 and a beta of 1.69. Albemarle Co. has a 52-week low of $86.75 and a 52-week high of $144.99.
Albemarle (NYSE:ALB) last announced its quarterly earnings results 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. The business had revenue of $853.87 million during the quarter, compared to the consensus estimate of $799.49 million. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. equities research analysts forecast that Albemarle Co. will post 5.39 EPS for the current fiscal 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 issued a $0.335 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.38%. Albemarle’s dividend payout ratio is presently 29.19%.
ALB has been the subject of several recent analyst reports. ValuEngine cut shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Tuesday, May 29th. Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research note on Tuesday, August 7th. Vertical Group upgraded shares of Albemarle from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. SunTrust Banks upgraded shares of Albemarle from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $115.00 in a research note on Tuesday. Finally, Bank of America initiated coverage on shares of Albemarle in a research note on Monday, June 25th. They issued a “buy” rating and a $115.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the company. Albemarle presently has a consensus rating of “Buy” and an average price target of $131.97.
In other news, EVP Karen G. Narwold sold 3,100 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total value of $301,041.00. Following the completion of the transaction, the executive vice president now owns 30,242 shares in the company, valued at approximately $2,936,800.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.
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.
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