Albemarle Co. (NYSE:ALB) Shares Acquired by Peak Financial Advisors LLC

Peak Financial Advisors LLC grew its stake in Albemarle Co. (NYSE:ALB) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,147 shares of the specialty chemicals company’s stock after buying an additional 700 shares during the quarter. Peak Financial Advisors LLC’s holdings in Albemarle were worth $1,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Activest Wealth Management acquired a new position in Albemarle in the 1st quarter worth about $25,000. Core Alternative Capital raised its holdings in Albemarle by 342.9% in the 1st quarter. Core Alternative Capital now owns 124 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 96 shares during the period. AdvisorNet Financial Inc raised its holdings in Albemarle by 188.1% in the 1st quarter. AdvisorNet Financial Inc now owns 121 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 79 shares during the period. Covestor Ltd raised its holdings in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Finally, Artemis Wealth Advisors LLC acquired a new position in Albemarle in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 84.71% of the company’s stock.

Analyst Upgrades and Downgrades

ALB has been the subject of a number of analyst reports. Citigroup started coverage on Albemarle in a report on Tuesday, June 13th. They issued a “buy” rating and a $260.00 price target for the company. Bank of America increased their target price on Albemarle from $200.00 to $212.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Piper Sandler reduced their target price on Albemarle from $275.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, September 1st. Evercore ISI reduced their target price on Albemarle from $295.00 to $280.00 and set an “outperform” rating for the company in a report on Friday, September 8th. Finally, StockNews.com cut Albemarle from a “hold” rating to a “sell” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.76.

Albemarle Trading Down 0.6 %

ALB opened at $183.84 on Friday. Albemarle Co. has a 52 week low of $171.82 and a 52 week high of $334.55. The business has a fifty day simple moving average of $202.38 and a 200-day simple moving average of $208.66. The firm has a market cap of $21.57 billion, a P/E ratio of 5.53, a P/E/G ratio of 0.60 and a beta of 1.56. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.35.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $7.33 EPS for the quarter, topping the consensus estimate of $4.27 by $3.06. Albemarle had a return on equity of 45.88% and a net margin of 40.55%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $3.45 earnings per share. The company’s quarterly revenue was up 60.2% on a year-over-year basis. On average, equities analysts expect that Albemarle Co. will post 26.09 earnings per share for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Albemarle’s dividend payout ratio is currently 4.81%.

About Albemarle

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.