9,224 Shares in Albemarle Corporation $ALB Bought by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC purchased a new stake in Albemarle Corporation (NYSE:ALB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,224 shares of the specialty chemicals company’s stock, valued at approximately $1,245,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings 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 valued at $346,000 after purchasing an additional 996 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Albemarle in the first quarter worth $208,000. Empowered Funds LLC acquired a new position in Albemarle during the first quarter valued at $411,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Up 1.2%

Shares of ALB stock opened at $137.34 on Friday. The stock’s 50 day simple moving average is $129.26 and its 200 day simple moving average is $159.74. Albemarle Corporation has a twelve month low of $71.25 and a twelve month high of $221.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 508.69 and a beta of 1.33.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. The company’s revenue was up 31.1% on a year-over-year basis. As a group, research analysts predict that Albemarle Corporation will post 11.39 EPS for the current year.

Albemarle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. This is a boost from Albemarle’s previous quarterly dividend of $0.41. Albemarle’s dividend payout ratio (DPR) is 600.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Albemarle from $225.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Zacks Research downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. UBS Group lowered their price target on shares of Albemarle from $205.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Robert W. Baird dropped their price target on shares of Albemarle from $236.00 to $224.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded Albemarle from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Albemarle currently has an average rating of “Moderate Buy” and an average target price of $190.04.

Albemarle Profile

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.