AIA Group Ltd Grows Position in Albemarle Co. (NYSE:ALB)

AIA Group Ltd boosted its stake in Albemarle Co. (NYSE:ALBGet Rating) by 43.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,124 shares of the specialty chemicals company’s stock after purchasing an additional 341 shares during the quarter. AIA Group Ltd’s holdings in Albemarle were worth $249,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new stake in Albemarle during the first quarter worth approximately $28,000. Quent Capital LLC purchased a new stake in Albemarle during the fourth quarter worth approximately $31,000. Larson Financial Group LLC purchased a new stake in Albemarle during the fourth quarter worth approximately $32,000. DeDora Capital Inc. purchased a new stake in Albemarle during the first quarter worth approximately $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Albemarle during the first quarter worth approximately $35,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cowen boosted their price objective on shares of Albemarle from $275.00 to $300.00 in a research note on Friday, May 6th. Credit Suisse Group boosted their price objective on shares of Albemarle from $185.00 to $196.00 and gave the stock an “underperform” rating in a research note on Thursday. Cowen boosted their target price on shares of Albemarle from $275.00 to $300.00 in a research report on Friday, May 6th. Royal Bank of Canada boosted their target price on shares of Albemarle from $300.00 to $314.00 in a research report on Tuesday, May 24th. Finally, Mizuho boosted their target price on shares of Albemarle from $243.00 to $293.00 in a research report on Friday, May 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $273.95.

Albemarle Stock Up 1.3 %

Shares of NYSE:ALB opened at $237.99 on Friday. The company’s fifty day moving average is $224.06 and its two-hundred day moving average is $215.79. The stock has a market capitalization of $27.88 billion, a price-to-earnings ratio of 107.20, a price-to-earnings-growth ratio of 0.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 1.88. Albemarle Co. has a 1-year low of $169.93 and a 1-year high of $291.48.

Albemarle (NYSE:ALBGet Rating) last announced its earnings results on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.66. Albemarle had a net margin of 6.08% and a return on equity of 15.39%. During the same period last year, the firm posted $0.89 earnings per share. Equities analysts anticipate that Albemarle Co. will post 20.75 EPS for the current year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be given a $0.395 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.58 dividend on an annualized basis and a yield of 0.66%. Albemarle’s dividend payout ratio is presently 71.17%.

Albemarle Profile

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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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