Albemarle Co. (NYSE:ALB) Holdings Raised by Deutsche Bank AG

Deutsche Bank AG increased its position in shares of Albemarle Co. (NYSE:ALB - Free Report) by 24.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 602,304 shares of the specialty chemicals company's stock after purchasing an additional 119,026 shares during the quarter. Deutsche Bank AG owned 0.51% of Albemarle worth $51,846,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 136 shares during the period. First Community Trust NA boosted its stake in Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 142 shares during the period. Metis Global Partners LLC grew its holdings in shares of Albemarle by 3.9% during the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company's stock valued at $336,000 after purchasing an additional 148 shares during the last quarter. SlateStone Wealth LLC raised its position in shares of Albemarle by 3.3% during the 4th quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company's stock worth $401,000 after purchasing an additional 150 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Albemarle by 5.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,982 shares of the specialty chemicals company's stock worth $257,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Price Performance

Shares of Albemarle stock opened at $61.56 on Tuesday. Albemarle Co. has a 52 week low of $49.43 and a 52 week high of $137.50. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $64.37 and its two-hundred day moving average price is $82.58. The stock has a market cap of $7.24 billion, a PE ratio of -5.50 and a beta of 1.71.

Albemarle (NYSE:ALB - Get Free Report) last released its earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.44. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.18 billion. Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. The business's quarterly revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. As a group, sell-side analysts anticipate that Albemarle Co. will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, June 13th. Albemarle's dividend payout ratio is -14.57%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALB. TD Securities cut their target price on Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Scotiabank cut their price objective on shares of Albemarle from $75.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler reduced their target price on shares of Albemarle from $90.00 to $85.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. Truist Financial dropped their price target on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, BMO Capital Markets cut their price target on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Albemarle currently has a consensus rating of "Hold" and a consensus price target of $92.43.

About Albemarle

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.

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.