Albemarle Corporation $ALB Stake Increased by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in shares of Albemarle Corporation (NYSE:ALB) by 21.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 146,511 shares of the specialty chemicals company’s stock after purchasing an additional 25,384 shares during the quarter. Natixis Advisors LLC’s holdings in Albemarle were worth $11,879,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in Albemarle by 25.5% during the 1st quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Albemarle by 26.2% in the first quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock worth $346,000 after purchasing an additional 996 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Albemarle in the first quarter worth approximately $208,000. Empowered Funds LLC acquired a new stake in shares of Albemarle during the first quarter worth approximately $411,000. Finally, National Pension Service grew its position in Albemarle by 261.9% during the second quarter. National Pension Service now owns 1,636 shares of the specialty chemicals company’s stock valued at $103,000 after purchasing an additional 1,184 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

ALB stock opened at $163.68 on Friday. The firm has a 50 day moving average of $170.61 and a two-hundred day moving average of $127.80. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $206.00. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of -28.47, a P/E/G ratio of 1.29 and a beta of 1.43. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business posted ($1.09) EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th. Albemarle’s dividend payout ratio (DPR) is -28.17%.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the sale, the chief executive officer owned 134,628 shares of the company’s stock, valued at $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer upped their price objective on shares of Albemarle from $109.00 to $207.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Albemarle from $185.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Bank of America raised shares of Albemarle from a “neutral” rating to a “buy” rating and upped their price target for the stock from $167.00 to $190.00 in a research note on Tuesday, February 17th. Robert W. Baird set a $210.00 price objective on Albemarle and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Finally, UBS Group lifted their price objective on Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Albemarle has a consensus rating of “Moderate Buy” and a consensus target price of $170.24.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.