11,015 Shares in Albemarle Corporation $ALB Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in shares of Albemarle Corporation (NYSE:ALB) in the 2nd quarter, HoldingsChannel reports. The firm bought 11,015 shares of the specialty chemicals company’s stock, valued at approximately $1,487,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALB. Addison Advisors LLC purchased a new position in Albemarle in the second quarter worth $28,000. BOKF NA raised its position in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Albemarle during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC lifted its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 483 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Albemarle in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Trading Down 0.2%

NYSE:ALB opened at $142.99 on Monday. The company has a fifty day moving average of $132.04 and a 200 day moving average of $160.70. Albemarle Corporation has a 52 week low of $71.25 and a 52 week high of $221.00. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $16.87 billion, a P/E ratio of 529.61 and a beta of 1.33.

Albemarle (NYSE:ALB) last announced its quarterly 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 net margin of 3.09% and a return on equity of 10.96%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $0.11 EPS. The company’s revenue was up 31.1% on a year-over-year basis. On average, research analysts predict that Albemarle Corporation will post 11.63 earnings per share for the current year.

Albemarle Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, September 11th. This is a boost from Albemarle’s previous quarterly dividend of $0.41. This represents a $1.64 annualized dividend and a dividend yield of 1.1%. Albemarle’s payout ratio is 600.00%.

Analysts Set New Price Targets

ALB has been the topic of several recent research reports. Jefferies Financial Group decreased their price objective on Albemarle from $244.00 to $211.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. UBS Group reduced their price target on shares of Albemarle from $205.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Mizuho decreased their price target on shares of Albemarle from $205.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Truist Financial lowered their price objective on shares of Albemarle from $245.00 to $225.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Argus upped their price objective on shares of Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Albemarle has an average rating of “Moderate Buy” and an average price target of $190.26.

About Albemarle

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.