Aldebaran Financial Inc. Purchases New Stake in Albemarle Co. (ALB)

Aldebaran Financial Inc. purchased a new position in shares of Albemarle Co. (NYSE:ALB) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,153 shares of the specialty chemicals company’s stock, valued at approximately $2,747,000. Albemarle comprises approximately 1.9% of Aldebaran Financial Inc.’s portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. grew its position in Albemarle by 100.8% during the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock worth $19,478,000 after acquiring an additional 92,650 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Albemarle in the 2nd quarter worth approximately $439,000. Lord Abbett & CO. LLC bought a new stake in shares of Albemarle in the 2nd quarter worth approximately $11,681,000. Sumitomo Life Insurance Co. bought a new stake in shares of Albemarle in the 3rd quarter worth approximately $1,703,000. Finally, Vanguard Group Inc. grew its position in shares of Albemarle by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after buying an additional 213,530 shares during the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.

A number of brokerages have recently weighed in on ALB. UBS lifted their price objective on Albemarle from $123.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Jefferies Group reiterated a “buy” rating on shares of Albemarle in a research report on Tuesday, October 24th. BMO Capital Markets began coverage on Albemarle in a research report on Tuesday, October 24th. They issued an “outperform” rating and a $160.00 price objective on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $136.00 price objective on shares of Albemarle in a research report on Wednesday, September 20th. Finally, Goldman Sachs Group lowered Albemarle from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $139.66 to $142.00 in a research report on Friday, October 6th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $128.45.

Albemarle Co. (NYSE ALB) opened at $130.10 on Thursday. The company has a market capitalization of $14,404.21, a P/E ratio of 32.27, a PEG ratio of 1.97 and a beta of 1.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. Albemarle Co. has a one year low of $85.60 and a one year high of $144.99.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. analysts expect that Albemarle Co. will post 4.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, December 14th. Albemarle’s payout ratio is 16.56%.

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Albemarle Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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