Capital Innovations LLC Buys New Stake in Albemarle Co. (ALB)

Capital Innovations LLC bought a new position in Albemarle Co. (NYSE:ALB) during the first quarter, Holdings Channel reports. The fund bought 2,190 shares of the specialty chemicals company’s stock, valued at approximately $231,000.

Other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Albemarle by 3.0% in the fourth quarter. State Street Corp now owns 6,326,177 shares of the specialty chemicals company’s stock worth $544,643,000 after buying an additional 186,320 shares in the last quarter. Jennison Associates LLC boosted its stake in Albemarle by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock worth $602,763,000 after buying an additional 702,388 shares in the last quarter. Putnam Investments LLC boosted its stake in Albemarle by 12.3% in the fourth quarter. Putnam Investments LLC now owns 1,234,882 shares of the specialty chemicals company’s stock worth $106,299,000 after buying an additional 135,205 shares in the last quarter. Columbus Circle Investors boosted its stake in Albemarle by 10.0% in the first quarter. Columbus Circle Investors now owns 1,110,457 shares of the specialty chemicals company’s stock worth $117,309,000 after buying an additional 100,823 shares in the last quarter. Finally, Norges Bank acquired a new stake in Albemarle during the fourth quarter worth approximately $77,376,000. 86.50% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Shares of Albemarle Co. (NYSE:ALB) traded up 0.29% on Friday, hitting $110.32. The stock had a trading volume of 897,049 shares. The firm has a market cap of $12.22 billion, a P/E ratio of 26.81 and a beta of 1.41. The firm’s 50-day moving average price is $107.53 and its 200 day moving average price is $96.17. Albemarle Co. has a 12 month low of $74.35 and a 12 month high of $112.88.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. Albemarle had a net margin of 6.92% and a return on equity of 14.38%. The firm had revenue of $722.06 million during the quarter, compared to the consensus estimate of $678.74 million. Analysts anticipate that Albemarle Co. will post $4.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.16%. Albemarle’s dividend payout ratio (DPR) is presently 63.54%.

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A number of equities research analysts have commented on ALB shares. Royal Bank of Canada started coverage on Albemarle in a report on Thursday, February 23rd. They set an “outperform” rating and a $114.00 price target on the stock. Zacks Investment Research cut Albemarle from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Citigroup Inc cut Albemarle from a “buy” rating to a “neutral” rating and raised their price target for the company from $104.77 to $112.00 in a report on Monday, March 6th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target on shares of Albemarle in a report on Tuesday, April 4th. Finally, Robert W. Baird reissued an “outperform” rating and set a $125.00 price target on shares of Albemarle in a report on Friday, March 17th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $117.20.

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.

5 Day Chart for NYSE:ALB

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