Roffman Miller Associates Inc. PA Has $3.13 Million Position in Albemarle Corporation (NYSE:ALB)

Roffman Miller Associates Inc. PA lessened its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 43,490 shares of the specialty chemicals company's stock after selling 5,191 shares during the period. Roffman Miller Associates Inc. PA's holdings in Albemarle were worth $3,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. lifted its position in shares of Albemarle by 340.6% during the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 235 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Albemarle during the 4th quarter valued at $34,000. Orion Capital Management LLC acquired a new stake in shares of Albemarle during the 4th quarter valued at $35,000. SJS Investment Consulting Inc. acquired a new stake in shares of Albemarle during the 1st quarter valued at $32,000. Finally, Smartleaf Asset Management LLC grew its position in 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. Institutional investors and hedge funds own 92.87% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ALB. Wall Street Zen upgraded shares of Albemarle to a "sell" rating in a research report on Monday, May 5th. Citigroup lowered their price objective on shares of Albemarle from $85.00 to $64.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Scotiabank lowered their price objective on shares of Albemarle from $75.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial lowered their price objective on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Albemarle presently has a consensus rating of "Hold" and an average target price of $91.62.

Albemarle Stock Up 5.1%

Shares of ALB stock traded up $3.59 on Thursday, hitting $74.38. The company's stock had a trading volume of 5,716,315 shares, compared to its average volume of 2,880,563. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.11 and a quick ratio of 1.26. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The firm's fifty day moving average price is $60.66 and its 200-day moving average price is $70.86. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of -6.69 and a beta of 1.63.

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

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, June 13th. Albemarle's dividend payout ratio is -14.57%.

Albemarle 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.