11,015 Shares in Albemarle Corporation $ALB Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,015 shares of the specialty chemicals company's stock, valued at approximately $1,487,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Albemarle by 25.5% during the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company's stock valued at $229,000 after purchasing an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company's stock worth $346,000 after buying an additional 996 shares during the last quarter. United Services Automobile Association bought a new position in shares of Albemarle in the first quarter valued at approximately $208,000. Empowered Funds LLC purchased a new stake in shares of Albemarle during the first quarter valued at approximately $411,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 483 shares during the period. 92.87% of the stock is owned by institutional investors.

Albemarle Trading Down 0.2%

NYSE:ALB opened at $142.99 on Monday. Albemarle Corporation has a 1 year low of $71.25 and a 1 year high of $221.00. The stock's fifty day moving average price is $132.04 and its two-hundred day moving average price is $160.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.09 and a quick ratio of 1.35. The company has a market cap of $16.87 billion, a P/E ratio of 529.61 and a beta of 1.33.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $0.11 EPS. The firm's revenue for the quarter was up 31.1% compared to the same quarter last year. As a group, analysts expect that Albemarle Corporation will post 11.63 EPS for the current year.

Albemarle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.41 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.64 annualized dividend and a yield of 1.1%. This is a boost from Albemarle's previous quarterly dividend of $0.41. Albemarle's dividend payout ratio is currently 600.00%.

Wall Street Analyst Weigh In

ALB has been the subject of several research analyst reports. Morgan Stanley reaffirmed a "reduce" rating and set a $161.00 target price on shares of Albemarle in a research report on Monday, August 10th. Vertical Research raised shares of Albemarle from a "hold" rating to a "buy" rating and set a $224.00 price objective on the stock in a research report on Tuesday, May 26th. Truist Financial reduced their target price on shares of Albemarle from $245.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Citigroup lowered their price target on shares of Albemarle from $225.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Finally, Rothschild & Co Redburn reduced their price objective on Albemarle from $188.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Fifteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Albemarle currently has a consensus rating of "Moderate Buy" and an average price target of $190.26.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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