Ameriflex Group Inc. purchased a new stake in Albemarle Co. (NYSE:ALB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,775 shares of the specialty chemicals company's stock, valued at approximately $486,000.
Several other institutional investors also recently modified their holdings of ALB. Assetmark Inc. raised its holdings in Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 235 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Albemarle in the fourth quarter worth about $34,000. Ameliora Wealth Management Ltd. purchased a new stake in Albemarle in the 4th quarter valued at about $35,000. Orion Capital Management LLC purchased a new stake in shares of Albemarle in the fourth quarter valued at approximately $35,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Albemarle by 48.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company's stock worth $36,000 after purchasing an additional 136 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Albemarle Stock Down 3.3%
Shares of ALB traded down $1.90 during trading hours on Friday, reaching $55.59. The stock had a trading volume of 2,064,445 shares, compared to its average volume of 2,816,497. 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 firm has a 50-day simple moving average of $59.85 and a 200 day simple moving average of $79.20. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of -4.96 and a beta of 1.71. Albemarle Co. has a 12 month low of $49.43 and a 12 month high of $125.94.
Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.62) by $0.44. Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm earned $0.26 earnings per share. The firm's revenue was down 20.9% on a year-over-year basis. Equities research analysts predict that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.
Albemarle Dividend Announcement
The company also recently announced 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.62 annualized dividend and a dividend yield of 2.91%. Albemarle's dividend payout ratio is presently -14.57%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on ALB. Truist Financial dropped their target price on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded shares of Albemarle to a "sell" rating in a report on Monday, May 5th. Citigroup reduced their price target on shares of Albemarle from $85.00 to $64.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. KeyCorp dropped their price target on shares of Albemarle from $102.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler set a $68.00 price objective on Albemarle and gave the company an "underweight" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $91.62.
Check Out Our Latest Analysis on ALB
Albemarle Company Profile
(
Free Report)
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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