Keybank National Association OH boosted its position in shares of Albemarle Co. (NYSE:ALB) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,684 shares of the specialty chemicals company’s stock after purchasing an additional 1,109 shares during the quarter. Keybank National Association OH’s holdings in Albemarle were worth $2,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Albemarle by 17.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,963 shares of the specialty chemicals company’s stock valued at $657,000 after acquiring an additional 1,056 shares during the period. Independent Advisor Alliance increased its holdings in shares of Albemarle by 9.8% in the 2nd quarter. Independent Advisor Alliance now owns 11,269 shares of the specialty chemicals company’s stock valued at $1,063,000 after acquiring an additional 1,007 shares during the period. US Bancorp DE increased its holdings in shares of Albemarle by 43.6% in the 2nd quarter. US Bancorp DE now owns 380,278 shares of the specialty chemicals company’s stock valued at $35,873,000 after acquiring an additional 115,395 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Albemarle by 5.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 405,514 shares of the specialty chemicals company’s stock valued at $38,253,000 after acquiring an additional 19,243 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Albemarle by 101.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 42,248 shares of the specialty chemicals company’s stock valued at $3,961,000 after acquiring an additional 21,325 shares during the period. Institutional investors own 90.46% of the company’s stock.

Shares of ALB stock opened at $96.00 on Friday. Albemarle Co. has a 1-year low of $86.75 and a 1-year high of $144.99. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37. The firm has a market cap of $10.25 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.65.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.08. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. The company had revenue of $853.87 million during the quarter, compared to analysts’ expectations of $799.49 million. equities research analysts forecast that Albemarle Co. will post 5.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a dividend of $0.335 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.34 dividend on an annualized basis and a yield of 1.40%. Albemarle’s dividend payout ratio is currently 29.19%.

A number of research analysts have recently issued reports on ALB shares. ValuEngine downgraded Albemarle from a “hold” rating to a “sell” rating in a report on Tuesday, May 29th. Zacks Investment Research downgraded Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Vertical Group upgraded Albemarle from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. Bank of America initiated coverage on Albemarle in a research note on Monday, June 25th. They set a “buy” rating and a $115.00 target price on the stock. Finally, Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $131.71.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

See Also: Earnings Per Share

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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