Albemarle Corporation (NYSE:ALB) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in Albemarle Corporation (NYSE:ALB - Free Report) by 83.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,106 shares of the specialty chemicals company's stock after selling 29,722 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Albemarle were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Metis Global Partners LLC boosted its stake in Albemarle by 3.9% in the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company's stock valued at $336,000 after acquiring an additional 148 shares in the last quarter. SlateStone Wealth LLC lifted its stake in shares of Albemarle by 3.3% during the fourth quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company's stock worth $401,000 after buying an additional 150 shares during the period. Toronto Dominion Bank lifted its stake in shares of Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock worth $3,414,000 after buying an additional 158 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Albemarle by 34.0% during the fourth quarter. Lindbrook Capital LLC now owns 626 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 159 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Albemarle by 62.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 181 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Up 1.9%

Shares of NYSE ALB opened at $64.94 on Friday. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91. The stock has a market cap of $7.64 billion, a PE ratio of -5.84 and a beta of 1.61. The company has a current ratio of 2.11, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $59.08 and a 200 day moving average of $72.49.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.44. Albemarle had a negative net margin of 22.39% and a negative return on equity of 1.92%. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Albemarle's revenue was down 20.9% compared to the same quarter last year. As a group, sell-side analysts predict that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The company also recently declared 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 2.49%. Albemarle's dividend payout ratio (DPR) is -14.57%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALB. Morgan Stanley lowered their price objective on shares of Albemarle from $68.00 to $58.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Citigroup lowered their price objective on shares of Albemarle from $85.00 to $64.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of Albemarle from $80.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Truist Financial lowered their price objective on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen upgraded shares of Albemarle to a "sell" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $91.62.

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.

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