Nissay Asset Management Corp Japan ADV Increases Stock Position in Albemarle Co. (NYSE:ALB)

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Nissay Asset Management Corp Japan ADV increased its stake in Albemarle Co. (NYSE:ALB) by 9.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,797 shares of the specialty chemicals company’s stock after purchasing an additional 970 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Albemarle were worth $834,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ALB. Ellevest Inc. lifted its holdings in shares of Albemarle by 133.2% during the 2nd quarter. Ellevest Inc. now owns 492 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 281 shares during the period. Exane Derivatives boosted its position in Albemarle by 137.3% in the first quarter. Exane Derivatives now owns 814 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 471 shares during the last quarter. Reitz Capital Advisors LLC purchased a new stake in shares of Albemarle during the 2nd quarter valued at about $53,000. Synovus Financial Corp lifted its stake in shares of Albemarle by 34.6% in the 1st quarter. Synovus Financial Corp now owns 1,054 shares of the specialty chemicals company’s stock worth $59,000 after purchasing an additional 271 shares during the period. Finally, Private Capital Group LLC boosted its holdings in shares of Albemarle by 525.1% in the first quarter. Private Capital Group LLC now owns 1,144 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 961 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ALB opened at $82.46 on Friday. The company has a 50 day simple moving average of $80.39 and a two-hundred day simple moving average of $74.06. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 2.90 and a beta of 1.46. The company has a current ratio of 1.81, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. Albemarle Co. has a 12 month low of $48.89 and a 12 month high of $99.40.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, May 6th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The company had revenue of $738.85 million during the quarter, compared to the consensus estimate of $769.26 million. Albemarle had a net margin of 14.50% and a return on equity of 15.34%. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. Analysts forecast that Albemarle Co. will post 3.33 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 18th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.87%. Albemarle’s payout ratio is 25.50%.

Several equities research analysts have recently commented on the company. ValuEngine lowered Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, April 15th. Loop Capital upgraded shares of Albemarle from a “sell” rating to a “hold” rating and lifted their target price for the company from $48.00 to $73.00 in a research note on Friday, June 26th. Citigroup raised Albemarle from a “sell” rating to a “hold” rating in a report on Friday, June 26th. BMO Capital Markets dropped their price target on Albemarle from $115.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Finally, UBS Group lowered their target price on Albemarle from $98.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.98.

Albemarle Company Profile

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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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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