Jupiter Topco LLC Makes New $13 Million Investment in Albemarle Corporation $ALB

Jupiter Topco LLC acquired a new stake in Albemarle Corporation (NYSE:ALB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 96,355 shares of the specialty chemicals company’s stock, valued at approximately $13,001,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pinkerton Wealth LLC acquired a new stake in shares of Albemarle in the fourth quarter worth approximately $2,785,000. BW Gestao de Investimentos Ltda. grew its holdings in Albemarle by 181.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company’s stock valued at $18,705,000 after purchasing an additional 85,320 shares during the period. Great Lakes Advisors LLC acquired a new position in Albemarle during the second quarter worth approximately $4,246,000. NFJ Investment Group LLC acquired a new position in Albemarle during the second quarter worth approximately $23,328,000. Finally, Hsbc Holdings PLC raised its stake in Albemarle by 47.4% during the fourth quarter. Hsbc Holdings PLC now owns 230,690 shares of the specialty chemicals company’s stock worth $32,655,000 after purchasing an additional 74,202 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALB has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their target price on Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Berenberg Bank lifted their target price on Albemarle from $153.00 to $192.00 and gave the company a “hold” rating in a report on Tuesday, June 2nd. Robert W. Baird lowered their price target on Albemarle from $236.00 to $224.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. Finally, Morgan Stanley restated a “reduce” rating and set a $161.00 price target on shares of Albemarle in a research note on Monday, August 10th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.04.

Albemarle Stock Up 1.2%

Shares of Albemarle stock opened at $137.34 on Friday. 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 $16.21 billion, a price-to-earnings ratio of 508.69 and a beta of 1.33. The company has a current ratio of 2.09, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $129.26 and a 200 day moving average price of $159.74.

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 the consensus estimate of $3.20 by $0.55. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The firm’s revenue was up 31.1% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Equities research analysts forecast that Albemarle Corporation will post 11.39 earnings per share for the current fiscal year.

Albemarle Increases Dividend

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

Albemarle Profile

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.