Bokf Na Buys 11,364 Shares of Albemarle Corporation $ALB

Bokf Na increased its stake in Albemarle Corporation (NYSE:ALB) by 5,857.7% during the third quarter, Holdings Channel.com reports. The firm owned 11,558 shares of the specialty chemicals company’s stock after purchasing an additional 11,364 shares during the quarter. Bokf Na’s holdings in Albemarle were worth $1,223,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Addison Advisors LLC purchased a new position in Albemarle during the second quarter valued at $28,000. Sound Income Strategies LLC increased its position in Albemarle by 190.1% in the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 192 shares in the last quarter. Dakota Community Bank & Trust NA purchased a new stake in Albemarle in the first quarter worth about $54,000. Fiduciary Financial Advisors bought a new position in shares of Albemarle in the second quarter worth about $41,000. Finally, Valley National Advisers Inc. raised its stake in shares of Albemarle by 3,700.0% in the third quarter. Valley National Advisers Inc. now owns 304 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 296 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ALB shares. Morgan Stanley reaffirmed a “reduce” rating and set a $161.00 price objective on shares of Albemarle in a research report on Monday, August 10th. Wall Street Zen raised shares of Albemarle from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Truist Financial decreased their target price on shares of Albemarle from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. UBS Group lowered their price target on shares of Albemarle from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, Barclays started coverage on shares of Albemarle in a research report on Monday, October 12th. They issued an “equal weight” rating and a $109.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $179.41.

Albemarle Stock Performance

ALB opened at $91.00 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 stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 337.05, a PEG ratio of 0.54 and a beta of 1.36. The company has a fifty day moving average of $111.88 and a 200 day moving average of $149.82. Albemarle Corporation has a fifty-two week low of $88.01 and a fifty-two week high of $221.00.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Albemarle Corporation will post 11.15 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, December 18th. Albemarle’s payout ratio is 607.41%.

Albemarle Profile

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company headquartered in Charlotte, North Carolina. The company develops, manufactures, and markets engineered chemicals used in energy storage, transportation, refining, pharmaceuticals, agriculture, consumer products, and other industrial applications.

Albemarle is one of the world’s major producers of lithium and supplies lithium compounds, including lithium carbonate and lithium hydroxide, for use in rechargeable batteries for electric vehicles, portable electronics, and grid energy-storage systems.