Fieldview Capital Management LLC Has $1.77 Million Stock Position in Albemarle Corporation $ALB

Key Points

• Fieldview Capital reduced its stake in Albemarle by 42.2% in Q3, selling 15,943 shares and retaining 21,836 shares worth about $1.77 million.
• Analysts hold a consensus rating of Moderate Buy with a $170.24 average target, though individual price targets vary widely (about $145 to $205) after several recent upgrades and downgrades.
• Albemarle's latest quarter missed EPS (loss of $0.53 vs. -$0.40 expected) but beat revenue estimates ($1.43B vs. $1.34B), with revenue up 15.9% YoY; the company also declared a $0.405 quarterly dividend (1.0% yield).

Fieldview Capital Management LLC reduced its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 42.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,836 shares of the specialty chemicals company's stock after selling 15,943 shares during the quarter. Fieldview Capital Management LLC's holdings in Albemarle were worth $1,770,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its position in Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company's stock valued at $229,000 after purchasing an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Albemarle by 26.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company's stock worth $346,000 after buying an additional 996 shares during the last quarter. United Services Automobile Association bought a new position in shares of Albemarle in the 1st quarter valued at about $208,000. Empowered Funds LLC acquired a new stake in shares of Albemarle in the first quarter valued at about $411,000. Finally, Assetmark Inc. raised its holdings in Albemarle by 248.0% during the second quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company's stock worth $43,000 after acquiring an additional 491 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

ALB has been the topic of several recent analyst reports. Rothschild & Co Redburn boosted their price target on Albemarle from $158.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of Albemarle from $195.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, February 13th. UBS Group increased their price target on shares of Albemarle from $185.00 to $205.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Scotiabank raised shares of Albemarle from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $85.00 to $200.00 in a research report on Monday, January 12th. Finally, Stephens reaffirmed an "outperform" rating on shares of Albemarle in a report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.24.

Albemarle Price Performance

Shares of ALB opened at $169.59 on Tuesday. The company's 50-day moving average is $169.14 and its 200-day moving average is $126.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57. The firm has a market capitalization of $19.99 billion, a PE ratio of -29.49, a PEG ratio of 1.29 and a beta of 1.43. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $206.00.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.09) EPS. Equities analysts forecast 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, April 1st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Albemarle's dividend payout ratio (DPR) is -28.17%.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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