Oppenheimer Asset Management Inc. Grows Holdings in Albemarle Co. (ALB)

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Oppenheimer Asset Management Inc. raised its position in Albemarle Co. (NYSE:ALB) by 7.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,398 shares of the specialty chemicals company’s stock after acquiring an additional 535 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Albemarle were worth $698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALB. Baillie Gifford & Co. lifted its stake in Albemarle by 1,220.5% in the 2nd quarter. Baillie Gifford & Co. now owns 2,617,349 shares of the specialty chemicals company’s stock valued at $246,894,000 after acquiring an additional 2,419,144 shares in the last quarter. Jennison Associates LLC increased its position in shares of Albemarle by 21.4% during the 2nd quarter. Jennison Associates LLC now owns 7,330,974 shares of the specialty chemicals company’s stock worth $691,531,000 after purchasing an additional 1,290,510 shares during the last quarter. Carmignac Gestion acquired a new position in shares of Albemarle during the 1st quarter worth approximately $113,591,000. Iridian Asset Management LLC CT increased its position in shares of Albemarle by 43.6% during the 1st quarter. Iridian Asset Management LLC CT now owns 1,985,826 shares of the specialty chemicals company’s stock worth $184,166,000 after purchasing an additional 602,784 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Albemarle by 334.1% during the 1st quarter. Principal Financial Group Inc. now owns 741,798 shares of the specialty chemicals company’s stock worth $68,795,000 after purchasing an additional 570,899 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

ALB stock opened at $97.19 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37. The company has a market cap of $10.59 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.27 and a beta of 1.69. Albemarle Co. has a 1-year low of $86.75 and a 1-year high of $144.99.

Albemarle (NYSE:ALB) last posted its 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. The business had revenue of $853.87 million for the quarter, compared to analyst estimates of $799.49 million. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. equities analysts forecast that Albemarle Co. will post 5.39 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 issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, September 13th. Albemarle’s payout ratio is presently 29.19%.

Several research analysts have weighed in on ALB shares. Goldman Sachs Group raised Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Tuesday, July 3rd. Zacks Investment Research lowered Albemarle from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. ValuEngine lowered Albemarle from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Bank of America started coverage on Albemarle in a research report on Monday, June 25th. They set a “buy” rating and a $115.00 price target on the stock. 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $131.97.

In related news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total transaction of $301,041.00. Following the transaction, the executive vice president now directly owns 30,242 shares of the company’s stock, valued at approximately $2,936,800.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.

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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