DnB Asset Management AS increased its holdings in Albemarle Co. (NYSE:ALB) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,011 shares of the specialty chemicals company’s stock after purchasing an additional 1,800 shares during the quarter. DnB Asset Management AS’s holdings in Albemarle were worth $1,792,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Albemarle by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Albemarle by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after purchasing an additional 1,375,546 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Albemarle by 258.1% in the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after purchasing an additional 3,287,989 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Albemarle by 95.3% in the third quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock worth $217,507,000 after purchasing an additional 778,649 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Albemarle by 98.8% in the third quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after purchasing an additional 650,158 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on ALB. Loop Capital began coverage on shares of Albemarle in a report on Thursday, September 28th. They issued a “buy” rating and a $150.00 target price on the stock. UBS Group boosted their target price on shares of Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Royal Bank of Canada restated a “buy” rating and issued a $149.00 target price on shares of Albemarle in a report on Wednesday, October 18th. KeyCorp boosted their target price on shares of Albemarle from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Jefferies Group boosted their target price on shares of Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Albemarle has an average rating of “Buy” and an average target price of $128.38.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. sell-side analysts forecast that Albemarle Co. will post 4.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. Albemarle’s dividend payout ratio is currently 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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