KBC Group NV lessened its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 59.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,622 shares of the specialty chemicals company's stock after selling 14,116 shares during the period. KBC Group NV's holdings in Albemarle were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. SlateStone Wealth LLC increased its position in Albemarle by 3.3% during the 4th 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 increased its position in Albemarle by 0.4% during the 4th 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 grew its holdings in shares of Albemarle by 34.0% during the 4th quarter. Lindbrook Capital LLC now owns 626 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 159 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Albemarle by 62.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 181 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Albemarle by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock worth $977,000 after purchasing an additional 188 shares in the last quarter. Institutional investors own 92.87% of the company's stock.
Albemarle Price Performance
Shares of Albemarle stock traded up $4.67 during trading hours on Tuesday, hitting $70.17. The company's stock had a trading volume of 7,273,642 shares, compared to its average volume of 2,878,840. The business has a 50 day moving average price of $60.41 and a two-hundred day moving average price of $70.86. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91. The company has a market cap of $8.26 billion, a PE ratio of -6.31 and a beta of 1.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 2.11.
Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.44. The company had revenue of $1.08 billion during 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 revenue was down 20.9% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. Analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.
Albemarle Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.31%. Albemarle's payout ratio is -14.57%.
Analysts Set New Price Targets
Several research firms have recently issued reports on ALB. Piper Sandler set a $68.00 target price on Albemarle and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Truist Financial reduced their target price on Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their target price on Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company reduced their target price on Albemarle from $80.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, TD Securities reduced their target price on Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Three 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's stock. According to data from MarketBeat, Albemarle has an average rating of "Hold" and an average price target of $91.62.
Check Out Our Latest Analysis on ALB
About Albemarle
(
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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