Deutsche Bank AG Purchases New Position in Albemarle Corporation $ALB

Key Points

• Deutsche Bank acquired 970,516 Albemarle shares worth approximately $131 million during the second quarter, giving it an estimated 0.82% stake. Institutional investors collectively own 92.87% of the company.
• Albemarle exceeded quarterly expectations, reporting $3.75 in earnings per share and $1.74 billion in revenue, with revenue rising 31.1% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $190.26, while Albemarle declared a quarterly dividend of $0.41 per share, equivalent to a 1.2% yield.

Deutsche Bank AG bought a new stake in Albemarle Corporation (NYSE:ALB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 970,516 shares of the specialty chemicals company's stock, valued at approximately $131,049,000. Deutsche Bank AG owned approximately 0.82% of Albemarle as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ALB. Evexia Wealth LLC lifted its stake in Albemarle by 2.3% during the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company's stock valued at $387,000 after acquiring an additional 47 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Albemarle by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company's stock worth $349,000 after acquiring an additional 60 shares in the last quarter. Eaton Financial Holdings Company LLC raised its holdings in shares of Albemarle by 1.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company's stock valued at $816,000 after purchasing an additional 66 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Albemarle by 2.3% in the first quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company's stock valued at $530,000 after purchasing an additional 66 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Albemarle by 1.9% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company's stock valued at $508,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

Albemarle stock opened at $134.44 on Thursday. Albemarle Corporation has a 1-year low of $71.25 and a 1-year 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 firm has a market capitalization of $15.86 billion, a PE ratio of 497.93 and a beta of 1.33. The firm's 50 day simple moving average is $133.08 and its 200 day simple moving average is $161.11.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $0.55. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The company's quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. As a group, analysts expect that Albemarle Corporation will post 11.91 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is presently 600.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Rothschild & Co Redburn dropped their target price on shares of Albemarle from $188.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. HSBC upped their target price on Albemarle from $200.00 to $220.00 and gave the company a "buy" rating in a report on Monday, April 27th. Wall Street Zen lowered Albemarle from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Vertical Research raised 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. Finally, Mizuho reduced their price objective on Albemarle from $205.00 to $185.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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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