Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Albemarle Co. (NYSE:ALB – Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 735,382 shares of the specialty chemicals company’s stock after acquiring an additional 46,287 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.63% of Albemarle worth $70,244,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Symmetry Investments LP bought a new stake in Albemarle in the second quarter worth about $220,000. Ensign Peak Advisors Inc raised its holdings in shares of Albemarle by 6.2% in the second quarter. Ensign Peak Advisors Inc now owns 146,459 shares of the specialty chemicals company’s stock worth $13,990,000 after buying an additional 8,528 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Albemarle by 3.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 689,927 shares of the specialty chemicals company’s stock worth $65,902,000 after acquiring an additional 23,618 shares during the last quarter. Sei Investments Co. boosted its holdings in Albemarle by 20.9% during the 2nd quarter. Sei Investments Co. now owns 525,043 shares of the specialty chemicals company’s stock valued at $50,153,000 after acquiring an additional 90,813 shares during the period. Finally, Inspire Investing LLC grew its position in Albemarle by 2.9% in the 2nd quarter. Inspire Investing LLC now owns 16,047 shares of the specialty chemicals company’s stock valued at $1,533,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Albemarle Stock Performance
Shares of ALB opened at $86.03 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The firm has a market cap of $10.11 billion, a PE ratio of 31.28, a P/E/G ratio of 8.03 and a beta of 1.54. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $177.52. The stock has a fifty day moving average price of $86.91 and a 200-day moving average price of $106.72.
Albemarle Increases Dividend
The business also recently announced 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. The ex-dividend date of this dividend is Friday, September 13th. 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 1.88%. Albemarle’s dividend payout ratio (DPR) is 58.91%.
Analysts Set New Price Targets
ALB has been the subject of a number of recent analyst reports. Berenberg Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating and lowered their target price for the company from $160.00 to $83.00 in a research note on Wednesday, July 31st. Citigroup lowered their price objective on shares of Albemarle from $137.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. HSBC lowered Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a report on Wednesday, July 17th. Finally, Hsbc Global Res upgraded Albemarle to a “hold” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $117.10.
Read Our Latest Research Report on ALB
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.
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