HB Wealth Management LLC Has $10.98 Million Stake in Albemarle Co. (NYSE:ALB)

HB Wealth Management LLC boosted its position in shares of Albemarle Co. (NYSE:ALBGet Rating) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,534 shares of the specialty chemicals company’s stock after acquiring an additional 200 shares during the quarter. HB Wealth Management LLC’s holdings in Albemarle were worth $10,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Lowe Wealth Advisors LLC bought a new stake in Albemarle in the 1st quarter worth approximately $28,000. Covestor Ltd lifted its holdings in Albemarle by 51.2% in the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 44 shares during the period. Quent Capital LLC bought a new position in shares of Albemarle in the fourth quarter worth about $31,000. Westside Investment Management Inc. grew its position in shares of Albemarle by 200.0% during the first quarter. Westside Investment Management Inc. now owns 150 shares of the specialty chemicals company’s stock worth $22,503,000 after purchasing an additional 100 shares in the last quarter. Finally, DeDora Capital Inc. purchased a new position in Albemarle during the 1st quarter valued at approximately $34,000. 81.80% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Down 3.2 %

Shares of ALB traded down $8.69 during mid-day trading on Friday, hitting $263.46. 42,280 shares of the company traded hands, compared to its average volume of 1,331,410. Albemarle Co. has a 1-year low of $169.93 and a 1-year high of $308.24. The business has a 50 day moving average of $262.42 and a 200 day moving average of $232.37. The company has a quick ratio of 1.20, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $30.86 billion, a PE ratio of 118.68, a price-to-earnings-growth ratio of 0.42 and a beta of 1.52.

Albemarle (NYSE:ALBGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.42. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. Albemarle had a return on equity of 15.39% and a net margin of 6.08%. During the same period last year, the company earned $0.89 EPS. Equities research analysts anticipate that Albemarle Co. will post 21.22 EPS for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 16th will be paid a dividend of $0.395 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.58 annualized dividend and a yield of 0.60%. Albemarle’s dividend payout ratio is presently 71.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ALB shares. UBS Group raised their price target on Albemarle from $218.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Royal Bank of Canada upped their price target on Albemarle from $357.00 to $371.00 and gave the company an “outperform” rating in a research report on Thursday, September 8th. StockNews.com upgraded Albemarle from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Oppenheimer raised their price target on Albemarle from $368.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Finally, Credit Suisse Group raised their price target on Albemarle from $185.00 to $196.00 and gave the stock an “underperform” rating in a report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $284.45.

About Albemarle

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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, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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