Albemarle Co. (ALB) Shares Bought by QCI Asset Management Inc. NY

QCI Asset Management Inc. NY raised its stake in shares of Albemarle Co. (NYSE:ALB) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,916 shares of the specialty chemicals company’s stock after acquiring an additional 7,419 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Albemarle were worth $7,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of Albemarle by 95.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 52,966 shares of the specialty chemicals company’s stock worth $4,912,000 after buying an additional 25,922 shares during the last quarter. Stoneridge Investment Partners LLC increased its holdings in shares of Albemarle by 29.2% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 51,930 shares of the specialty chemicals company’s stock worth $4,899,000 after acquiring an additional 11,728 shares during the period. Grandfield & Dodd LLC increased its holdings in shares of Albemarle by 7.0% in the 2nd quarter. Grandfield & Dodd LLC now owns 92,785 shares of the specialty chemicals company’s stock worth $8,752,000 after acquiring an additional 6,030 shares during the period. Toronto Dominion Bank increased its holdings in shares of Albemarle by 24.4% in the 1st quarter. Toronto Dominion Bank now owns 61,255 shares of the specialty chemicals company’s stock worth $5,679,000 after acquiring an additional 12,034 shares during the period. Finally, Bank of The West increased its holdings in shares of Albemarle by 12.1% in the 2nd quarter. Bank of The West now owns 16,092 shares of the specialty chemicals company’s stock worth $1,518,000 after acquiring an additional 1,736 shares during the period. Hedge funds and other institutional investors own 88.36% of the company’s stock.

A number of research firms recently weighed in on ALB. Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Tuesday, August 7th. ValuEngine cut shares of Albemarle from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Goldman Sachs Group raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Tuesday, July 3rd. Bank of America began coverage on shares of Albemarle in a report on Monday, June 25th. They issued a “buy” rating and a $115.00 price objective on the stock. Finally, Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $131.78.

Albemarle stock opened at $98.50 on Friday. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.35 and a beta of 1.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.72 and a current ratio of 2.19. Albemarle Co. has a 52 week low of $86.75 and a 52 week high of $144.99.

Albemarle (NYSE:ALB) last released its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.08. The firm had revenue of $853.87 million for the quarter, compared to analysts’ expectations of $799.49 million. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. research analysts forecast that Albemarle Co. will post 5.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.34 annualized dividend and a yield of 1.36%. Albemarle’s payout ratio is 29.19%.

Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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