US Bancorp DE increased its holdings in shares of Albemarle Co. (NYSE:ALB) by 22.2% in the third quarter, Holdings Channel reports. The institutional investor owned 464,655 shares of the specialty chemicals company’s stock after purchasing an additional 84,377 shares during the quarter. US Bancorp DE’s holdings in Albemarle were worth $46,364,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ALB. Credit Agricole S A bought a new stake in shares of Albemarle during the second quarter worth approximately $123,000. SeaCrest Wealth Management LLC boosted its holdings in Albemarle by 145.9% during the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 1,004 shares during the last quarter. Palladium Partners LLC acquired a new position in Albemarle during the third quarter worth $205,000. GSA Capital Partners LLP acquired a new position in Albemarle during the second quarter worth $212,000. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in Albemarle during the third quarter worth $215,000. 90.89% of the stock is owned by institutional investors and hedge funds.
ALB has been the subject of several recent research reports. ValuEngine cut shares of Albemarle from a “hold” rating to a “sell” rating in a report on Friday, September 28th. 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 report on Tuesday, August 7th. Loop Capital set a $130.00 target price on shares of Albemarle and gave the stock a “buy” rating in a report on Monday, October 8th. SunTrust Banks upgraded shares of Albemarle from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $115.00 in a report on Tuesday, September 4th. Finally, Vertical Group initiated coverage on shares of Albemarle in a report on Tuesday, September 25th. They set a “sell” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $124.55.
NYSE ALB opened at $106.44 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.55 and a current ratio of 2.19. Albemarle Co. has a 1 year low of $86.75 and a 1 year high of $144.99. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.39 and a beta of 1.53.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.08. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. The firm had revenue of $853.87 million for the quarter, compared to analyst estimates of $799.49 million. Equities research analysts anticipate that Albemarle Co. will post 5.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, December 13th. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.
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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