5,897 Shares in Albemarle Corporation $ALB Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Albemarle Corporation (NYSE:ALB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,897 shares of the specialty chemicals company’s stock, valued at approximately $788,000.

Several other large investors also recently bought and sold shares of the stock. Addison Advisors LLC purchased a new position in Albemarle during the 2nd quarter worth approximately $28,000. Elyxium Wealth LLC purchased a new stake in Albemarle in the fourth quarter valued at approximately $34,000. Torren Management LLC purchased a new stake in Albemarle in the fourth quarter valued at approximately $38,000. Sound Income Strategies LLC boosted its holdings in shares of Albemarle by 190.1% in the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 192 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in shares of Albemarle by 121.5% in the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Trading Up 6.6%

NYSE:ALB opened at $142.99 on Friday. Albemarle Corporation has a 12-month low of $71.25 and a 12-month high of $221.00. The company has a current ratio of 2.09, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $132.04 and its 200-day simple moving average is $160.73. The firm has a market cap of $16.87 billion, a P/E ratio of 529.61 and a beta of 1.33.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $0.11 earnings per share. The company’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 EPS for the current year.

Albemarle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $0.41 dividend. This is a boost from Albemarle’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, September 11th. This represents a $1.64 annualized dividend and a dividend yield of 1.1%. Albemarle’s dividend payout ratio (DPR) is 600.00%.

Wall Street Analysts Forecast Growth

ALB has been the topic of a number of recent research reports. Citigroup cut their target price on shares of Albemarle from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings upgraded shares of Albemarle from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Morgan Stanley reissued a “reduce” rating and set a $161.00 price objective on shares of Albemarle in a research report on Monday, August 10th. Berenberg Bank lifted their price objective on shares of Albemarle from $153.00 to $192.00 and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Wells Fargo & Company upped their target price on shares of Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.26.

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.