The Louisiana State Employee Retirement System increased its stake in Albemarle Company (NYSE:ALB – GET Rating) by 1.4% in the first quarter, Holdings Channel reports. The institutional investor held 7,400 shares of the Specialty Chemical Company after purchasing an additional 100 shares during the quarter. Holdings of the Louisiana State Employee Retirement System in Albemarle were $1,607,000 at the end of the most recent quarter.
Many other hedge funds and other institutional investors have also changed their positions in the stock. BlackRock Inc. increased its stake in Albemarle by 0.6% in the fourth quarter. BlackRock Inc. US now holds 9,121,178 shares of the specialty chemicals company valued at $2,132,257,000 after purchasing an additional 57,229 shares during the period. Geode Capital Management LLC increased its stake in Albemarle to 3.4% in the fourth quarter. Geode Capital Management LLC now holds 2,145,611 shares of the specialty chemicals company valued at $500,283,000 after purchasing an additional 71,109 shares in the previous quarter. Capital Research Global Investors increased its holding in Albemarle by 1.8% in the fourth quarter. After purchasing an additional 21,735 shares in the prior quarter, Capital Research Global Investors now owns 1,241,023 shares of the specialty chemicals company, valued at $290,114,000. Pictet Asset Management SA increased its stake in Albemarle to 6.0% in the fourth quarter. Pictet Asset Management SA now owns 1,192,093 shares of the Specialty Chemicals Company valued at $278,676,000 after purchasing an additional 67,297 shares in the previous quarter. Finally, Invesco Ltd. increased its stake in Albemarle to 12.3% in the fourth quarter. After purchasing an additional 119,892 shares in the previous quarter, Invesco Ltd now owns 1,091,953 shares for $255,266,000. Institutional investors and hedge funds hold 80.03% of the company’s shares.
A number of Equity Research analysts have commented on ALB stock. Cowen raised its price target on Albemarle shares to $300.00 from $275.00 in a research note on Friday, May 6. In a research note on Wednesday, Deutsche Bank Actiengesellschaft lowered its price target on Albemarle shares to $255.00 from $320.00. StockNews.com downgraded shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday. The Jefferies Financial Group reinstated a “buy” rating on Albemarle shares with a price target of $290.00 in a research report on Monday, May 16. Finally, TheStreet upgraded Albemarle’s stock from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. Four analysts from Equity Research have rated the stock with a sell rating, three with a hold rating and twelve with a A buy rating on the company. Based on data from Marketbeat, Albemarle currently has a consensus rating of Hold and a consensus price target of $273.15.
ALB shares opened at $205.93 on Friday. The stock has a market cap of $24.12 billion, a P/E of 86.53, a P/E of 0.59, and a beta of 1.57. The company has a debt to equity ratio of 0.33, a current ratio of 1.11 and a quick ratio of 0.63. The company’s 50-day moving average price is $227.52 and its 200-day moving average price is $217.42. Albemarle Co. One year low of $169.50 and one year high of $291.48.
Albemarle (NYSE:ALB – GET RATINGS) last announced its quarterly earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, beating analysts’ consensus estimate of $1.73 by $0.65. The company’s revenue was $1.13 billion for the quarter, beating analysts’ expectations of $1.03 billion. Albemarle had a net margin of 7.76% and a return on equity of 10.35%. The company’s quarterly revenue increased 36.0% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $1.10 per share. As a group, Equity Research analysts expect Albemarle Company to post 13.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. A dividend of $0.395 was paid to shareholders of record on Friday, June 10. That translates to a dividend of $1.58 and a yield of 0.77% year over year. The ex-dividend date of this dividend was Thursday June 9th. Albemarle’s payout ratio currently stands at 66.39%.
Albemarle. around (received rating)
Albemarle Corporation develops, manufactures and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride and lithium specialties; and reagents such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high-performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, chemical reaction catalysts, organic synthesis processes in the fields of steroid chemicals and vitamins, life sciences, pharmaceuticals and other markets.
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