TD Asset Management Inc Has $4.97 Million Stake in Albemarle Co. (NYSE:ALB)

TD Asset Management Inc lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,016 shares of the specialty chemicals company’s stock after buying an additional 875 shares during the quarter. TD Asset Management Inc’s holdings in Albemarle were worth $4,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ALB. International Assets Investment Management LLC grew its position in shares of Albemarle by 4.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,407 shares of the specialty chemicals company’s stock worth $348,000 after buying an additional 111 shares during the period. Principal Securities Inc. acquired a new stake in shares of Albemarle during the 4th quarter worth approximately $142,000. Dimensional Fund Advisors LP grew its position in shares of Albemarle by 9.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,339,797 shares of the specialty chemicals company’s stock worth $193,616,000 after buying an additional 116,239 shares during the period. Ieq Capital LLC grew its position in shares of Albemarle by 44.1% during the 4th quarter. Ieq Capital LLC now owns 2,531 shares of the specialty chemicals company’s stock worth $366,000 after buying an additional 774 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Albemarle by 9.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 155,523 shares of the specialty chemicals company’s stock worth $21,801,000 after buying an additional 13,989 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALB. Mizuho reduced their price target on shares of Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Oppenheimer reduced their price target on shares of Albemarle from $188.00 to $178.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Evercore ISI reduced their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. UBS Group reduced their price target on shares of Albemarle from $124.00 to $109.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Bank of America reduced their price target on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $117.10.

Albemarle Trading Up 13.7 %

NYSE ALB opened at $89.36 on Thursday. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 6.92 and a beta of 1.54. Albemarle Co. has a one year low of $71.97 and a one year high of $188.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.75. The business’s fifty day moving average is $88.18 and its 200-day moving average is $108.74.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.49). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The company’s revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.33 earnings per share. Equities research analysts predict that Albemarle Co. will post 0.69 EPS for the current year.

Albemarle Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.405 dividend. This is a boost from Albemarle’s previous quarterly dividend of $0.40. This represents a $1.62 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, September 13th. Albemarle’s payout ratio is currently 58.91%.

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.