AIA Group Ltd boosted its position in Albemarle Co. (NYSE:ALB – Get Rating) by 43.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,124 shares of the specialty chemicals company’s stock after purchasing an additional 341 shares during the period. AIA Group Ltd’s holdings in Albemarle were worth $249,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Albemarle by 0.6% in the 4th quarter. BlackRock Inc. now owns 9,121,178 shares of the specialty chemicals company’s stock valued at $2,132,257,000 after buying an additional 57,229 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Albemarle by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,145,611 shares of the specialty chemicals company’s stock valued at $500,283,000 after buying an additional 71,109 shares during the last quarter. Capital Research Global Investors grew its position in shares of Albemarle by 1.8% in the 4th quarter. Capital Research Global Investors now owns 1,241,023 shares of the specialty chemicals company’s stock valued at $290,114,000 after buying an additional 21,735 shares during the last quarter. Pictet Asset Management SA grew its position in shares of Albemarle by 6.0% in the 4th quarter. Pictet Asset Management SA now owns 1,192,093 shares of the specialty chemicals company’s stock valued at $278,676,000 after buying an additional 67,297 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Albemarle by 12.3% in the 4th quarter. Invesco Ltd. now owns 1,091,953 shares of the specialty chemicals company’s stock valued at $255,266,000 after buying an additional 119,892 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Cowen upped their target price on Albemarle from $275.00 to $300.00 in a research report on Friday, May 6th. KeyCorp upgraded Albemarle from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, July 20th. Mizuho upped their target price on Albemarle from $243.00 to $293.00 in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Albemarle from $320.00 to $255.00 in a research note on Wednesday, July 6th. Finally, StockNews.com raised Albemarle from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Albemarle has a consensus rating of “Moderate Buy” and an average target price of $273.95.
Albemarle Trading Up 1.3 %
Albemarle (NYSE:ALB – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share. On average, equities research analysts anticipate that Albemarle Co. will post 20.75 earnings per share for the current year.
Albemarle Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 0.66%. Albemarle’s payout ratio is currently 71.17%.
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.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
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