Nvwm LLC grew its stake in shares of Albemarle Corporation (NYSE:ALB – Free Report) by 105,300.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,270 shares of the specialty chemicals company’s stock after buying an additional 5,265 shares during the period. Nvwm LLC’s holdings in Albemarle were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of ALB. Primecap Management Co. CA bought a new position in shares of Albemarle during the second quarter worth $358,101,000. Deutsche Bank AG purchased a new position in Albemarle during the second quarter valued at $131,049,000. Amundi increased its holdings in Albemarle by 40.5% in the 2nd quarter. Amundi now owns 827,874 shares of the specialty chemicals company’s stock valued at $111,784,000 after acquiring an additional 238,774 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Albemarle in the 2nd quarter valued at $103,268,000. Finally, Renaissance Technologies LLC increased its holdings in Albemarle by 78.5% in the 1st quarter. Renaissance Technologies LLC now owns 730,745 shares of the specialty chemicals company’s stock valued at $131,191,000 after acquiring an additional 321,400 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Albemarle from $244.00 to $211.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their price objective on Albemarle from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, August 25th. Mizuho raised Albemarle from a “neutral” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Wednesday. Robert W. Baird decreased their target price on Albemarle from $236.00 to $224.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Finally, Weiss Ratings upgraded Albemarle from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.74.
View Our Latest Analysis on Albemarle
Albemarle Trading Up 0.3%
Shares of ALB opened at $98.26 on Friday. The stock has a market capitalization of $11.59 billion, a PE ratio of 363.92, a P/E/G ratio of 0.58 and a beta of 1.36. The company’s fifty day moving average is $120.07 and its 200 day moving average is $146.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. Albemarle Corporation has a fifty-two week low of $88.01 and a fifty-two week high of $221.00.
Albemarle (NYSE:ALB – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.11 earnings per share. Albemarle’s quarterly revenue was up 31.1% compared to the same quarter last year. Sell-side analysts expect that Albemarle Corporation will post 11.25 earnings per share for the current fiscal year.
Albemarle Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were given a dividend of $0.41 per share. The ex-dividend date was Friday, September 11th. This represents a $1.64 annualized dividend and a dividend yield of 1.7%. This is a positive change from Albemarle’s previous quarterly dividend of $0.4050. Albemarle’s dividend payout ratio is currently 607.41%.
Albemarle Profile
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company that develops, manufactures and markets materials used in energy storage, transportation, consumer products and industrial applications. The company is best known for its lithium business, which supplies lithium compounds used in rechargeable batteries for electric vehicles, portable electronics and energy-storage systems.
Albemarle also produces bromine-based specialty chemicals used in areas such as fire safety, water treatment, pharmaceutical manufacturing and other industrial processes.
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