Charles Schwab Investment Management Inc. Has $77.27 Million Stock Holdings in Albemarle Corporation $ALB

Charles Schwab Investment Management Inc. increased its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,072,921 shares of the specialty chemicals company's stock after acquiring an additional 31,951 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.91% of Albemarle worth $77,272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ALB. SJS Investment Consulting Inc. purchased a new position in Albemarle in the 1st quarter valued at about $32,000. Orion Capital Management LLC purchased a new stake in shares of Albemarle during the 4th quarter valued at approximately $35,000. Costello Asset Management INC purchased a new stake in shares of Albemarle during the 1st quarter valued at approximately $36,000. Evermay Wealth Management LLC raised its position in shares of Albemarle by 84.1% during the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 306 shares during the period. Finally, Chapman Financial Group LLC acquired a new stake in Albemarle in the 4th quarter valued at approximately $60,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALB shares. Wall Street Zen raised Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft set a $74.00 price target on shares of Albemarle and gave the company a "hold" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. increased their price target on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday. TD Securities cut their target price on shares of Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their target price on shares of Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.17.

Albemarle Stock Performance

NYSE:ALB traded up $2.05 during mid-day trading on Monday, reaching $84.24. 1,189,733 shares of the company's stock were exchanged, compared to its average volume of 3,546,195. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The firm has a market capitalization of $9.91 billion, a PE ratio of -9.03 and a beta of 1.63. The business's fifty day simple moving average is $69.53 and its two-hundred day simple moving average is $67.83. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.83) by $0.94. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business earned $0.04 earnings per share. Albemarle's revenue was down 7.0% on a year-over-year basis. Analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 12th. Albemarle's dividend payout ratio (DPR) is presently -17.38%.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.