Albemarle Corporation $ALB Holdings Increased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its Albemarle stake by 8,337.1% in the third quarter, ending with 436,618 shares valued at about $46.2 million. Other institutional investors also raised positions; institutions own 92.87% of the company.
• Albemarle reported quarterly earnings of $2.58 per share, beating estimates of $2.53, while revenue of $1.55 billion also topped forecasts and rose 18.8% year over year.
• The company announced a quarterly dividend of $0.41 per share, equivalent to an annualized yield of 1.8%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $152.63.

Eurizon Capital SGR S.p.A. raised its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 8,337.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 436,618 shares of the specialty chemicals company's stock after buying an additional 431,443 shares during the quarter. Eurizon Capital SGR S.p.A. owned 0.37% of Albemarle worth $46,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Primecap Management Co. CA acquired a new stake in shares of Albemarle during the second quarter worth about $358,101,000. Deutsche Bank AG bought a new position in shares of Albemarle in the 2nd quarter valued at about $131,049,000. Bank of New York Mellon Corp acquired a new position in shares of Albemarle during the 2nd quarter worth approximately $103,268,000. Robeco Institutional Asset Management B.V. lifted its position in Albemarle by 2,981.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 733,793 shares of the specialty chemicals company's stock worth $77,621,000 after acquiring an additional 709,977 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Albemarle by 69.7% during the third quarter. ProShare Advisors LLC now owns 1,436,117 shares of the specialty chemicals company's stock worth $151,912,000 after acquiring an additional 589,787 shares during the period. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

Shares of ALB stock opened at $93.62 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.34 and a quick ratio of 1.57. The firm has a 50-day moving average of $103.61 and a 200-day moving average of $145.56. Albemarle Corporation has a one year low of $89.77 and a one year high of $221.00. The company has a market cap of $11.05 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.59 and a beta of 1.34.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.05. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Albemarle had a return on equity of 14.91% and a net margin of 10.40%. Albemarle's quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share. Equities research analysts forecast that Albemarle Corporation will post 10.64 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, December 18th. Albemarle's dividend payout ratio (DPR) is currently 39.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALB shares. Barclays decreased their price target on Albemarle from $109.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Friday, November 6th. CICC Research upped their price objective on shares of Albemarle from $83.28 to $108.58 in a research report on Wednesday. Deutsche Bank decreased their price objective on shares of Albemarle from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, November 9th. Royal Bank Of Canada cut their target price on shares of Albemarle from $129.00 to $119.00 and set an "outperform" rating on the stock in a research report on Friday, November 6th. Finally, Robert W. Baird decreased their price target on shares of Albemarle from $157.00 to $123.00 in a research report on Wednesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Albemarle presently has an average rating of "Moderate Buy" and a consensus price target of $152.63.

Albemarle Profile

Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.

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