10,521 Shares in Albemarle Corporation $ALB Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in shares of Albemarle Corporation (NYSE:ALB) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 10,521 shares of the specialty chemicals company’s stock, valued at approximately $1,421,000.

A number of other large investors also recently added to or reduced their stakes in ALB. Addison Advisors LLC acquired a new stake in shares of Albemarle during the 2nd quarter worth approximately $28,000. BOKF NA lifted its holdings in Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares during the period. Elyxium Wealth LLC bought a new position in Albemarle in the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC boosted its stake in Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 483 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in Albemarle during the 4th quarter worth $38,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Down 5.9%

Shares of NYSE ALB opened at $133.14 on Wednesday. Albemarle Corporation has a twelve month low of $71.25 and a twelve month high of $221.00. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 493.12 and a beta of 1.33. 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 company’s fifty day moving average is $130.83 and its 200-day moving average is $160.25.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.55. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts predict that Albemarle Corporation will post 11.63 EPS for the current year.

Albemarle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.2%. This is an increase from Albemarle’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, September 11th. Albemarle’s dividend payout ratio is currently 600.00%.

Analyst Ratings Changes

ALB has been the subject of several recent research reports. UBS Group dropped their target price on shares of Albemarle from $205.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Vertical Research raised Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Tuesday, May 26th. Wells Fargo & Company increased their target price on Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their target price on Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Rothschild & Co Redburn decreased their target price on Albemarle from $188.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Fifteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.04.

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.