Mitchell Mcleod Pugh & Williams Inc. Has $409,000 Holdings in Albemarle Co. (ALB)
Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Albemarle Co. (NYSE:ALB) by 113.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,200 shares of the specialty chemicals company’s stock after purchasing an additional 1,700 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Albemarle were worth $409,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in ALB. Pacer Advisors Inc. increased its stake in Albemarle by 9.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,118 shares of the specialty chemicals company’s stock valued at $224,000 after purchasing an additional 174 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Albemarle by 43.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 13,701 shares of the specialty chemicals company’s stock valued at $1,446,000 after purchasing an additional 4,154 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Albemarle during the 2nd quarter valued at about $386,000. JPMorgan Chase & Co. grew its stake in shares of Albemarle by 2,054.6% in the second quarter. JPMorgan Chase & Co. now owns 456,742 shares of the specialty chemicals company’s stock worth $48,206,000 after acquiring an additional 480,110 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Albemarle by 120.5% in the second quarter. Schroder Investment Management Group now owns 40,350 shares of the specialty chemicals company’s stock worth $4,223,000 after acquiring an additional 22,050 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.
Shares of Albemarle Co. (NYSE ALB) traded up $1.73 during trading hours on Friday, reaching $134.69. 838,300 shares of the company’s stock traded hands, compared to its average volume of 1,081,838. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. Albemarle Co. has a twelve month low of $90.35 and a twelve month high of $144.99. The stock has a market capitalization of $14,760.00, a P/E ratio of 48.10, a P/E/G ratio of 1.73 and a beta of 1.69.
Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $732.19 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. research analysts expect that Albemarle Co. will post 4.46 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, December 14th. Albemarle’s dividend payout ratio is currently 45.71%.
A number of analysts have recently commented on ALB shares. Loop Capital started coverage on shares of Albemarle in a research note on Thursday, September 28th. They issued a “buy” rating and a $150.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $149.00 price target on shares of Albemarle in a research note on Wednesday, October 18th. Nomura lifted their price target on shares of Albemarle from $146.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 price target on shares of Albemarle in a research note on Wednesday, November 1st. Finally, Oppenheimer lifted their price target on shares of Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $128.38.
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Albemarle Company 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.
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