Neuburgh Advisers LLC grew its position in shares of Albemarle Co. (NYSE:ALB) by 76.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,686 shares of the specialty chemicals company’s stock after purchasing an additional 8,500 shares during the period. Neuburgh Advisers LLC’s holdings in Albemarle were worth $1,614,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new stake in shares of Albemarle during the 1st quarter worth about $25,000. Proficio Capital Partners LLC boosted its stake in shares of Albemarle by 143.1% during the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of Albemarle during the 4th quarter worth about $27,000. Alpha Omega Wealth Management LLC boosted its stake in shares of Albemarle by 125.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 360 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its stake in shares of Albemarle by 163.1% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 876 shares of the specialty chemicals company’s stock worth $72,000 after purchasing an additional 543 shares during the last quarter. 89.84% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. ValuEngine raised shares of Albemarle from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada decreased their target price on shares of Albemarle to $100.00 and set an “outperform” rating on the stock in a research report on Friday, March 29th. KeyCorp decreased their target price on shares of Albemarle from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Buckingham Research decreased their target price on shares of Albemarle from $100.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday, March 29th. Finally, Jefferies Financial Group decreased their target price on shares of Albemarle from $114.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $98.98.
Shares of ALB stock opened at $71.98 on Friday. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 1.55. Albemarle Co. has a fifty-two week low of $63.10 and a fifty-two week high of $108.74.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $832.06 million for the quarter, compared to analysts’ expectations of $827.94 million. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. Albemarle’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, equities research analysts anticipate that Albemarle Co. will post 6.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.3675 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.47 dividend on an annualized basis and a yield of 2.04%. Albemarle’s dividend payout ratio (DPR) is 26.82%.
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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.
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