Atria Investments LLC Makes New Investment in Albemarle Co. (NYSE:ALB)

Atria Investments LLC purchased a new position in Albemarle Co. (NYSE:ALB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,765 shares of the specialty chemicals company’s stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALB. Gemmer Asset Management LLC increased its stake in shares of Albemarle by 71.1% in the second quarter. Gemmer Asset Management LLC now owns 361 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 150 shares during the period. Retirement Systems of Alabama increased its stake in shares of Albemarle by 0.3% in the second quarter. Retirement Systems of Alabama now owns 49,415 shares of the specialty chemicals company’s stock worth $3,479,000 after acquiring an additional 171 shares during the period. Wealthstreet Investment Advisors LLC increased its stake in shares of Albemarle by 3.8% in the second quarter. Wealthstreet Investment Advisors LLC now owns 4,800 shares of the specialty chemicals company’s stock worth $338,000 after acquiring an additional 175 shares during the period. Gs Investments Inc. increased its stake in shares of Albemarle by 0.9% in the second quarter. Gs Investments Inc. now owns 19,007 shares of the specialty chemicals company’s stock worth $1,338,000 after acquiring an additional 175 shares during the period. Finally, NEXT Financial Group Inc increased its stake in shares of Albemarle by 71.1% in the second quarter. NEXT Financial Group Inc now owns 433 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 180 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ALB opened at $68.91 on Friday. The company’s 50-day simple moving average is $65.33 and its 200-day simple moving average is $71.02. Albemarle Co. has a 52-week low of $58.63 and a 52-week high of $108.74. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.35.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.14. Albemarle had a net margin of 16.01% and a return on equity of 15.71%. The business had revenue of $885.05 million for the quarter, compared to analyst estimates of $893.50 million. During the same quarter last year, the business earned $1.36 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Albemarle Co. will post 6.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.3675 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.47 annualized dividend and a dividend yield of 2.13%. Albemarle’s dividend payout ratio (DPR) is 26.82%.

Several research firms recently commented on ALB. Credit Suisse Group set a $106.00 price target on shares of Albemarle and gave the company a “buy” rating in a research report on Friday, August 9th. Berenberg Bank set a $75.00 price target on shares of Albemarle and gave the company a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada dropped their price target on shares of Albemarle to $83.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Vertical Group dropped their price target on shares of Albemarle from $58.50 to $39.50 in a research report on Wednesday, August 14th. Finally, Bank of America dropped their price target on shares of Albemarle from $95.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Albemarle presently has a consensus rating of “Buy” and a consensus price target of $92.15.

In other news, CEO Luther C. Iv Kissam sold 36,000 shares of Albemarle stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.00, for a total value of $2,520,000.00. Following the sale, the chief executive officer now owns 334,046 shares in the company, valued at $23,383,220. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Norris purchased 3,090 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average cost of $64.66 per share, for a total transaction of $199,799.40. Following the completion of the purchase, the insider now owns 164 shares of the company’s stock, valued at approximately $10,604.24. The disclosure for this purchase can be found here. 1.02% of the stock is owned by company insiders.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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