Renaissance Investment Group LLC bought a new position in Albemarle Co. (NYSE:ALB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,570 shares of the specialty chemicals company’s stock, valued at approximately $201,000.
A number of other large investors have also recently added to or reduced their stakes in ALB. Schwab Charles Investment Management Inc. increased its position in Albemarle by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 496,880 shares of the specialty chemicals company’s stock worth $52,441,000 after buying an additional 1,504 shares during the last quarter. Blair William & Co. IL purchased a new stake in Albemarle in the second quarter worth $215,000. BB&T Securities LLC increased its position in Albemarle by 11.8% in the second quarter. BB&T Securities LLC now owns 3,465 shares of the specialty chemicals company’s stock worth $365,000 after buying an additional 365 shares during the last quarter. Pacer Advisors Inc. increased its position in Albemarle by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,118 shares of the specialty chemicals company’s stock worth $224,000 after buying an additional 174 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Albemarle by 43.5% in the second quarter. Neuberger Berman Group LLC now owns 13,701 shares of the specialty chemicals company’s stock worth $1,446,000 after buying an additional 4,154 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.
ALB has been the subject of a number of recent research reports. Instinet raised their target price on Albemarle from $134.00 to $146.00 and gave the stock a “buy” rating in a research report on Monday, September 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $136.00 price target on shares of Albemarle in a research report on Wednesday, September 20th. Jefferies Group lifted their price target on Albemarle from $144.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Robert W. Baird cut Albemarle from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $134.29 to $135.00 in a research report on Monday, September 25th. They noted that the move was a valuation call. Finally, Loop Capital started coverage on Albemarle in a research report on Thursday, September 28th. They issued a “buy” rating and a $150.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $128.45.
Albemarle Co. (NYSE:ALB) traded up $0.26 during trading hours on Wednesday, reaching $131.79. The company had a trading volume of 1,042,100 shares, compared to its average volume of 1,080,000. The company has a market capitalization of $14,560.00, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. Albemarle Co. has a 12 month low of $86.98 and a 12 month high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35.
Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. equities analysts predict that Albemarle Co. will post 4.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.97%. The ex-dividend date was Thursday, December 14th. Albemarle’s dividend payout ratio is 45.71%.
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Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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