Vega Investment Solutions Invests $8.77 Million in Albemarle Corporation $ALB

Vega Investment Solutions purchased a new position in Albemarle Corporation (NYSE:ALB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 64,477 shares of the specialty chemicals company's stock, valued at approximately $8,769,000. Albemarle comprises 1.2% of Vega Investment Solutions' holdings, making the stock its 25th largest holding. Vega Investment Solutions owned 0.05% of Albemarle as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinkerton Wealth LLC purchased a new position in Albemarle in the fourth quarter worth about $2,785,000. BW Gestao de Investimentos Ltda. increased its position in shares of Albemarle by 181.8% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company's stock valued at $18,705,000 after acquiring an additional 85,320 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Albemarle in the 2nd quarter worth approximately $4,246,000. Wealth High Governance Capital Ltda bought a new position in Albemarle in the 4th quarter valued at approximately $21,585,000. Finally, Hsbc Holdings PLC boosted its stake in Albemarle by 47.4% during the 4th quarter. Hsbc Holdings PLC now owns 230,690 shares of the specialty chemicals company's stock valued at $32,655,000 after purchasing an additional 74,202 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Mizuho decreased their price target on Albemarle from $205.00 to $185.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Citigroup dropped their price objective on Albemarle from $225.00 to $175.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Scotiabank decreased their target price on Albemarle from $200.00 to $190.00 and set a "sector outperform" rating for the company in a research report on Monday, August 10th. Rothschild & Co Redburn lowered their target price on shares of Albemarle from $188.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Finally, Robert W. Baird dropped their price target on shares of Albemarle from $236.00 to $224.00 and set a "neutral" rating on the stock in a report on Thursday, June 18th. Fifteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Albemarle currently has an average rating of "Moderate Buy" and a consensus price target of $190.26.

Albemarle Stock Performance

ALB stock opened at $141.60 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.09 and a quick ratio of 1.35. Albemarle Corporation has a 1 year low of $71.25 and a 1 year high of $221.00. The company has a market cap of $16.71 billion, a P/E ratio of 524.46 and a beta of 1.33. The stock's fifty day moving average price is $131.49 and its 200-day moving average price is $160.50.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $0.55. The company had revenue of $1.74 billion during 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%.Albemarle's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities analysts forecast that Albemarle Corporation will post 11.63 earnings per share for the current year.

Albemarle Increases Dividend

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

Albemarle 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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