Confluence Investment Management LLC Purchases 221 Shares of Albemarle Co. (NYSE:ALB)

Confluence Investment Management LLC increased its position in Albemarle Co. (NYSE:ALBGet Rating) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,467 shares of the specialty chemicals company’s stock after purchasing an additional 221 shares during the quarter. Confluence Investment Management LLC’s holdings in Albemarle were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ALB. Lowe Wealth Advisors LLC acquired a new stake in shares of Albemarle during the 1st quarter worth approximately $28,000. Covestor Ltd boosted its position in Albemarle by 51.2% in the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 44 shares in the last quarter. Quent Capital LLC bought a new position in shares of Albemarle during the fourth quarter valued at $31,000. DeDora Capital Inc. bought a new position in shares of Albemarle during the first quarter valued at $34,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Albemarle during the first quarter valued at $35,000. 81.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALB has been the topic of several research analyst reports. Credit Suisse Group upped their target price on Albemarle from $185.00 to $196.00 and gave the company an “underperform” rating in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft raised their target price on Albemarle from $255.00 to $270.00 in a report on Monday, August 8th. StockNews.com raised Albemarle from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Oppenheimer increased their price target on Albemarle from $368.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Finally, KeyCorp raised Albemarle from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $284.45.

Albemarle Stock Up 0.2 %

Shares of Albemarle stock opened at $287.32 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.20 and a current ratio of 1.88. Albemarle Co. has a 52-week low of $169.93 and a 52-week high of $308.24. The stock has a market capitalization of $33.65 billion, a price-to-earnings ratio of 129.42, a P/E/G ratio of 0.42 and a beta of 1.52. The company’s 50 day moving average price is $255.35 and its 200-day moving average price is $229.77.

Albemarle (NYSE:ALBGet Rating) last issued its earnings results on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.66. Albemarle had a net margin of 6.08% and a return on equity of 15.39%. During the same period in the previous year, the business earned $0.89 EPS. Equities research analysts forecast that Albemarle Co. will post 21.22 EPS for the current year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, September 15th. Albemarle’s dividend payout ratio (DPR) is currently 71.17%.

Albemarle Profile

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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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