Albemarle Co. (ALB) Shares Bought by QCI Asset Management Inc. NY
QCI Asset Management Inc. NY boosted its position in shares of Albemarle Co. (NYSE:ALB) by 57.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,853 shares of the specialty chemicals company’s stock after purchasing an additional 47,937 shares during the period. QCI Asset Management Inc. NY owned 0.12% of Albemarle worth $13,056,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neuburgh Advisers LLC grew its position in Albemarle by 24.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 13,736 shares of the specialty chemicals company’s stock worth $1,296,000 after purchasing an additional 2,720 shares in the last quarter. Stoneridge Investment Partners LLC grew its position in Albemarle by 29.2% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 51,930 shares of the specialty chemicals company’s stock worth $4,899,000 after purchasing an additional 11,728 shares in the last quarter. Grandfield & Dodd LLC grew its position in Albemarle by 7.0% during the 2nd quarter. Grandfield & Dodd LLC now owns 92,785 shares of the specialty chemicals company’s stock worth $8,752,000 after purchasing an additional 6,030 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Albemarle during the 2nd quarter worth approximately $943,000. Finally, California Public Employees Retirement System grew its position in Albemarle by 0.8% during the 2nd quarter. California Public Employees Retirement System now owns 232,684 shares of the specialty chemicals company’s stock worth $21,949,000 after purchasing an additional 1,828 shares in the last quarter. Hedge funds and other institutional investors own 90.99% of the company’s stock.
ALB has been the topic of several research analyst reports. ValuEngine cut shares of Albemarle from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Loop Capital set a $130.00 price objective on shares of Albemarle and gave the stock a “buy” rating in a research report on Monday, October 8th. SunTrust Banks upgraded shares of Albemarle from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $115.00 in a research report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research report on Tuesday, August 7th. Finally, Vertical Research initiated coverage on shares of Albemarle in a research report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $123.50.
Albemarle stock opened at $102.38 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.55 and a current ratio of 2.19. Albemarle Co. has a 12 month low of $86.75 and a 12 month high of $143.66. The firm has a market cap of $11.71 billion, a PE ratio of 22.31, a P/E/G ratio of 1.41 and a beta of 1.53.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.21%. The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $796.79 million. During the same period in the previous year, the company posted $1.08 EPS. Albemarle’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Albemarle Co. will post 5.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, December 13th. Albemarle’s dividend payout ratio is currently 29.19%.
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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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