United Capital Financial Advisors LLC Buys Shares of 9,224 Albemarle Corporation $ALB

United Capital Financial Advisors LLC purchased a new position in Albemarle Corporation (NYSE:ALB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 9,224 shares of the specialty chemicals company’s stock, valued at approximately $1,245,000.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after acquiring an additional 654 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Albemarle by 26.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after purchasing an additional 996 shares during the last quarter. United Services Automobile Association acquired a new position in Albemarle during the 1st quarter valued at $208,000. Empowered Funds LLC bought a new stake in Albemarle in the 1st quarter valued at $411,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 483 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALB shares. Vertical Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Tuesday, May 26th. UBS Group decreased their target price on Albemarle from $205.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Scotiabank lowered their price target on Albemarle from $200.00 to $190.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 10th. Weiss Ratings upgraded Albemarle from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. Finally, Morgan Stanley reissued a “reduce” rating and set a $161.00 price objective on shares of Albemarle in a report on Monday, August 10th. Fifteen 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.04.

Albemarle Price Performance

NYSE:ALB opened at $137.34 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. The company has a 50-day moving average of $129.26 and a 200-day moving average of $159.74. Albemarle Corporation has a 52 week low of $71.25 and a 52 week high of $221.00. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 508.69 and a beta of 1.33.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.55. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.61 billion. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, equities research analysts anticipate that Albemarle Corporation will post 11.39 earnings per share for the current fiscal year.

Albemarle Increases Dividend

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

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.