Commerzbank Aktiengesellschaft FI Has $918,000 Stock Position in Albemarle Corporation (NYSE:ALB)

Commerzbank Aktiengesellschaft FI decreased its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 33.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,740 shares of the specialty chemicals company's stock after selling 6,495 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Albemarle were worth $918,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Natixis Advisors LLC raised its stake in Albemarle by 36.4% during the 4th quarter. Natixis Advisors LLC now owns 78,864 shares of the specialty chemicals company's stock valued at $6,789,000 after purchasing an additional 21,031 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Albemarle by 17.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 35,828 shares of the specialty chemicals company's stock valued at $3,084,000 after buying an additional 5,384 shares during the last quarter. Cibc World Markets Corp increased its stake in Albemarle by 299.8% in the 4th quarter. Cibc World Markets Corp now owns 63,684 shares of the specialty chemicals company's stock worth $5,482,000 after acquiring an additional 47,755 shares during the last quarter. Xponance Inc. lifted its position in Albemarle by 4.8% during the fourth quarter. Xponance Inc. now owns 17,208 shares of the specialty chemicals company's stock valued at $1,481,000 after purchasing an additional 793 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Albemarle by 3.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 49,836 shares of the specialty chemicals company's stock worth $4,290,000 after buying an additional 1,571 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Albemarle Price Performance

NYSE ALB traded up $0.04 during trading hours on Monday, reaching $77.11. The company's stock had a trading volume of 3,690,208 shares, compared to its average volume of 2,936,286. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 2.11. The company's 50-day moving average is $62.75 and its two-hundred day moving average is $69.89. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The stock has a market cap of $9.07 billion, a PE ratio of -6.93 and a beta of 1.63.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.62) by $0.44. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.18 billion. Albemarle had a negative return on equity of 1.92% and a negative net margin of 22.39%. The firm's quarterly revenue was down 20.9% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS. Analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.62 annualized dividend and a dividend yield of 2.10%. Albemarle's payout ratio is currently -14.57%.

Analysts Set New Price Targets

ALB has been the subject of several analyst reports. UBS Group set a $57.00 price target on shares of Albemarle and gave the company a "sell" rating in a research report on Friday, July 11th. Morgan Stanley decreased their price objective on Albemarle from $68.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Mizuho set a $76.00 target price on Albemarle in a research note on Tuesday, July 15th. TD Securities decreased their price target on Albemarle from $115.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Truist Financial lowered their price target on Albemarle from $85.00 to $65.00 and set a "hold" rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $91.00.

Albemarle Company Profile

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.