Albemarle Co. (ALB) Position Boosted by Schroder Investment Management Group

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Schroder Investment Management Group raised its stake in shares of Albemarle Co. (NYSE:ALB) by 3.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,587 shares of the specialty chemicals company’s stock after purchasing an additional 835 shares during the period. Schroder Investment Management Group’s holdings in Albemarle were worth $2,553,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALB. Jennison Associates LLC raised its holdings in Albemarle by 7.7% in the 3rd quarter. Jennison Associates LLC now owns 7,896,101 shares of the specialty chemicals company’s stock worth $787,873,000 after acquiring an additional 565,127 shares during the period. Neuburgh Advisers LLC raised its stake in shares of Albemarle by 24.7% during the second quarter. Neuburgh Advisers LLC now owns 13,736 shares of the specialty chemicals company’s stock worth $1,296,000 after buying an additional 2,720 shares during the last quarter. Professional Advisory Services Inc. bought a new stake in Albemarle in the third quarter valued at approximately $9,459,000. IFM Investors Pty Ltd increased its stake in Albemarle by 15.4% in the third quarter. IFM Investors Pty Ltd now owns 6,155 shares of the specialty chemicals company’s stock valued at $614,000 after purchasing an additional 821 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Albemarle in the second quarter valued at approximately $943,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Albemarle from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Vertical Research started coverage on shares of Albemarle in a research report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price target on the stock. Vertical Group started coverage on shares of Albemarle in a research report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective on the stock. Berenberg Bank set a $130.00 price objective on shares of Albemarle and gave the company a “buy” rating in a research report on Friday, November 9th. Finally, Loop Capital set a $130.00 price target on shares of Albemarle and gave the stock a “buy” rating in a research report on Monday, October 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $122.43.

In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $96.54, for a total value of $299,274.00. Following the transaction, the executive vice president now directly owns 27,142 shares of the company’s stock, valued at $2,620,288.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.

Shares of Albemarle stock opened at $88.65 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.38. The company has a market cap of $9.68 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52. Albemarle Co. has a 52 week low of $86.75 and a 52 week high of $138.67.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Albemarle had a return on equity of 15.39% and a net margin of 10.44%. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $796.79 million. During the same quarter in the prior year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Albemarle Co. will post 5.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.34 annualized dividend and a dividend yield of 1.51%. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.

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Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

Read More: What is the 52-week high/low?

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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