Profund Advisors LLC lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 70.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,435 shares of the specialty chemicals company’s stock after acquiring an additional 4,736 shares during the period. Profund Advisors LLC’s holdings in Albemarle were worth $1,462,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Albemarle during the 4th quarter worth about $103,000. Stephens Inc. AR purchased a new position in shares of Albemarle during the 4th quarter worth about $115,000. Valeo Financial Advisors LLC purchased a new position in shares of Albemarle during the 4th quarter worth about $155,000. Renaissance Investment Group LLC acquired a new stake in Albemarle during the 4th quarter worth approximately $201,000. Finally, Canal Capital Management LLC acquired a new stake in Albemarle during the 4th quarter worth approximately $205,000. Institutional investors and hedge funds own 86.42% of the company’s stock.
Shares of Albemarle Co. (ALB) opened at $101.76 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.06 and a quick ratio of 1.57. Albemarle Co. has a 1 year low of $90.49 and a 1 year high of $144.99. The stock has a market cap of $11,258.56, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.22 and a beta of 1.60.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.335 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s dividend payout ratio (DPR) is presently 266.67%.
ALB has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Albemarle in a research report on Tuesday, February 27th. They set a “buy” rating and a $150.00 target price for the company. Robert W. Baird raised shares of Albemarle from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $131.72 to $133.51 in a research report on Monday, January 8th. Deutsche Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Seaport Global Securities reissued a “hold” rating and set a $130.00 target price on shares of Albemarle in a research report on Monday, February 5th. Finally, Oppenheimer reissued a “buy” rating on shares of Albemarle in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $128.07.
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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