Walleye Capital LLC Acquires 3,584 Shares of Albemarle Co. (NYSE:ALB)

Walleye Capital LLC increased its holdings in shares of Albemarle Co. (NYSE:ALBGet Rating) by 170.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,684 shares of the specialty chemicals company’s stock after purchasing an additional 3,584 shares during the period. Walleye Capital LLC’s holdings in Albemarle were worth $1,257,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ALB. Lowe Wealth Advisors LLC bought a new position in shares of Albemarle during the 1st quarter valued at about $28,000. Covestor Ltd raised its position in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 44 shares during the last quarter. Quent Capital LLC acquired a new stake in Albemarle in the 4th quarter valued at approximately $31,000. DeDora Capital Inc. acquired a new stake in Albemarle in the 1st quarter valued at approximately $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Albemarle in the 1st quarter valued at approximately $35,000. Institutional investors own 81.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALB. Wells Fargo & Company lifted their target price on Albemarle from $285.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, May 24th. Citigroup boosted their price target on Albemarle from $294.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. KeyCorp raised Albemarle from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $255.00 to $270.00 in a research report on Monday, August 8th. Finally, Oppenheimer boosted their price target on Albemarle from $368.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $284.45.

Albemarle Stock Performance

ALB opened at $287.32 on Monday. The business has a fifty day simple moving average of $255.35 and a 200 day simple moving average of $230.08. The company has a market capitalization of $33.65 billion, a PE ratio of 129.42, a price-to-earnings-growth ratio of 0.43 and a beta of 1.52. Albemarle Co. has a 1 year low of $169.93 and a 1 year high of $308.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.20.

Albemarle (NYSE:ALBGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.66. Albemarle had a return on equity of 15.39% and a net margin of 6.08%. During the same period in the prior year, the firm posted $0.89 earnings per share. Research analysts expect that Albemarle Co. will post 21.22 EPS for the current year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a dividend of $0.395 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 0.55%. Albemarle’s payout ratio is 71.17%.

About Albemarle

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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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