Corient Private Wealth LP Makes New $3.07 Million Investment in Albemarle Corporation $ALB

Key Points

• Corient Private Wealth acquired 22,748 Albemarle shares worth approximately $3.07 million in the second quarter. Institutional investors collectively own 92.87% of the company.
• Analyst sentiment remains favorable, with 15 Buy, 10 Hold, and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $190.04.
• Albemarle exceeded quarterly expectations, reporting $3.75 in earnings per share versus a $3.20 consensus estimate and $1.74 billion in revenue, up 31.1% year over year. Shares opened at $135.30, while the company maintained its $0.41 quarterly dividend.

Corient Private Wealth LP acquired a new stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 22,748 shares of the specialty chemicals company's stock, valued at approximately $3,071,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Addison Advisors LLC bought a new position in shares of Albemarle during the second quarter worth $28,000. BOKF NA grew its stake in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 404 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Albemarle in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC lifted its stake in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 483 shares in the last quarter. Finally, Fiduciary Financial Advisors purchased a new stake in Albemarle in the 2nd quarter worth $41,000. Institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

ALB has been the topic of several research reports. Vertical Research raised Albemarle from a "hold" rating to a "buy" rating and set a $224.00 target price on the stock in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft increased their price target on Albemarle from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada reduced their price objective on Albemarle from $166.00 to $157.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. Mizuho decreased their price objective on Albemarle from $205.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Finally, Truist Financial lowered their target price on Albemarle from $245.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Fifteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.04.

Albemarle Stock Up 0.2%

Shares of NYSE:ALB opened at $135.30 on Wednesday. The company has a market cap of $15.97 billion, a price-to-earnings ratio of 501.13, a PEG ratio of 0.79 and a beta of 1.33. Albemarle Corporation has a 12 month low of $71.25 and a 12 month high of $221.00. The company has a current ratio of 2.09, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $128.55 and a 200 day moving average price of $159.18.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.55. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.61 billion. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The firm's revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, equities research analysts predict that Albemarle Corporation will post 11.39 earnings per share for the current year.

Albemarle Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 11th. This is a positive change from Albemarle's previous quarterly dividend of $0.41. Albemarle's payout ratio is currently 600.00%.

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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