ASR Vermogensbeheer N.V. bought a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,356 shares of the specialty chemicals company's stock, valued at approximately $1,538,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC purchased a new position in shares of Albemarle in the 4th quarter worth about $218,000. Envestnet Asset Management Inc. increased its stake in shares of Albemarle by 9.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 177,939 shares of the specialty chemicals company's stock valued at $15,317,000 after buying an additional 15,778 shares during the period. Renaissance Technologies LLC raised its stake in Albemarle by 2,151.9% in the fourth quarter. Renaissance Technologies LLC now owns 60,800 shares of the specialty chemicals company's stock worth $5,234,000 after buying an additional 58,100 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Albemarle by 4.8% during the fourth quarter. Advisory Services Network LLC now owns 8,380 shares of the specialty chemicals company's stock valued at $721,000 after purchasing an additional 387 shares in the last quarter. Finally, Scotia Capital Inc. boosted its stake in Albemarle by 955.5% during the fourth quarter. Scotia Capital Inc. now owns 22,989 shares of the specialty chemicals company's stock worth $1,979,000 after acquiring an additional 20,811 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Albemarle from $80.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Truist Financial dropped their price objective on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating for the company in a report on Monday, April 14th. Citigroup cut their target price on Albemarle from $85.00 to $64.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Scotiabank raised their price target on shares of Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, Mizuho set a $76.00 target price on Albemarle in a research report on Tuesday, July 15th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $88.06.
Check Out Our Latest Analysis on Albemarle
Albemarle Price Performance
NYSE ALB traded up $5.29 during trading hours on Monday, reaching $80.77. The company's stock had a trading volume of 12,451,341 shares, compared to its average volume of 3,551,709. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The company's 50-day moving average is $67.25 and its two-hundred day moving average is $68.05. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -8.67 and a beta of 1.63. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91.
Albemarle (NYSE:ALB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.94. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The company's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 earnings per share. On average, equities analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.
Albemarle Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's payout ratio is currently -17.38%.
Albemarle Profile
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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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