Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Albemarle Corporation $ALB

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Albemarle Corporation (NYSE:ALB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,897 shares of the specialty chemicals company’s stock, valued at approximately $2,012,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Addison Advisors LLC purchased a new position in shares of Albemarle in the second quarter worth approximately $28,000. BOKF NA increased its holdings in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares during the last quarter. Elyxium Wealth LLC bought a new position in Albemarle in the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its position in Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares during the period. Finally, Torren Management LLC purchased a new position in shares of Albemarle during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of NYSE ALB opened at $141.60 on Tuesday. The stock has a market cap of $16.71 billion, a PE ratio of 524.46 and a beta of 1.33. Albemarle Corporation has a 1 year low of $71.25 and a 1 year high of $221.00. The firm has a fifty day moving average price of $131.49 and a 200-day moving average price of $160.50. 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 (NYSE:ALB) last released its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company earned $0.11 EPS. Albemarle’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities analysts anticipate that Albemarle Corporation will post 11.63 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 given a $0.41 dividend. The ex-dividend date is Friday, September 11th. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. This represents a $1.64 annualized dividend and a dividend yield of 1.2%. Albemarle’s dividend payout ratio (DPR) is presently 600.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALB shares. Berenberg Bank boosted their price objective on shares of Albemarle from $153.00 to $192.00 and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen cut Albemarle from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Rothschild & Co Redburn lowered their target price on Albemarle from $188.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Zacks Research downgraded Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.26.

About Albemarle

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.