Janney Capital Management LLC bought a new stake in Albemarle Co. (NYSE:ALB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,500 shares of the specialty chemicals company’s stock, valued at approximately $340,000.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Albemarle by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock valued at $1,319,389,000 after purchasing an additional 213,530 shares during the period. Jennison Associates LLC raised its position in Albemarle by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock valued at $1,062,819,000 after purchasing an additional 1,375,546 shares during the period. Bank of New York Mellon Corp raised its position in Albemarle by 258.1% in the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after purchasing an additional 3,287,989 shares during the period. TIAA CREF Investment Management LLC raised its position in Albemarle by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after purchasing an additional 679,453 shares during the period. Finally, Janus Henderson Group PLC raised its position in Albemarle by 95.3% in the third quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after purchasing an additional 778,649 shares during the period. Hedge funds and other institutional investors own 88.10% of the company’s stock.

ALB has been the topic of several research reports. KeyCorp reissued a “buy” rating and issued a $125.00 price objective on shares of Albemarle in a research report on Sunday, September 3rd. Oppenheimer initiated coverage on Albemarle in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $133.00 price objective on the stock. Robert W. Baird reissued a “hold” rating and issued a $135.00 price objective on shares of Albemarle in a research report on Wednesday, November 1st. Instinet raised their price objective on Albemarle from $134.00 to $146.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Finally, Jefferies Group raised their price objective on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $128.45.

Shares of Albemarle Co. (ALB) opened at $130.36 on Wednesday. Albemarle Co. has a 52-week low of $85.60 and a 52-week high of $144.99. The stock has a market capitalization of $14,490.39, a PE ratio of 32.46, a PEG ratio of 1.98 and a beta of 1.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. research analysts predict that Albemarle Co. will post 4.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. Albemarle’s dividend payout ratio (DPR) is 16.56%.

COPYRIGHT VIOLATION NOTICE: “Janney Capital Management LLC Buys New Holdings in Albemarle Co. (ALB)” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/janney-capital-management-llc-buys-new-holdings-in-albemarle-co-alb/1761218.html.

Albemarle Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.