Ethic Inc. Buys 13,364 Shares of Albemarle Co. (NYSE:ALB)

Ethic Inc. raised its stake in Albemarle Co. (NYSE:ALB - Free Report) by 80.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,990 shares of the specialty chemicals company's stock after purchasing an additional 13,364 shares during the quarter. Ethic Inc.'s holdings in Albemarle were worth $2,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 235 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 279 shares in the last quarter. First Community Trust NA raised its holdings in shares of Albemarle by 55.0% during 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 in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Albemarle during the fourth quarter valued at approximately $34,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Albemarle during the fourth quarter valued at approximately $35,000. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Down 1.8%

Shares of NYSE ALB traded down $1.11 during trading on Wednesday, reaching $60.75. The company had a trading volume of 3,092,014 shares, compared to its average volume of 2,783,168. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. Albemarle Co. has a 12-month low of $49.43 and a 12-month high of $137.50. The stock has a market cap of $7.15 billion, a PE ratio of -5.42 and a beta of 1.71. The business's 50-day moving average is $63.78 and its 200 day moving average is $82.29.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings data 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. Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period last year, the firm posted $0.26 earnings per share. Albemarle's revenue was down 20.9% compared to the same quarter last year. As a group, equities analysts forecast that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, June 13th. Albemarle's dividend payout ratio (DPR) is currently -14.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALB shares. Royal Bank of Canada decreased their target price on Albemarle from $133.00 to $114.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. StockNews.com upgraded Albemarle to a "sell" rating in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on Albemarle from $80.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Truist Financial reduced their price target on Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, UBS Group reduced their price target on Albemarle from $86.00 to $64.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.