Siemens Fonds Invest GmbH purchased a new stake in shares of Albemarle Co. (NYSE:ALB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,720 shares of the specialty chemicals company's stock, valued at approximately $837,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in Albemarle by 71.5% in the 4th quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company's stock worth $1,287,000 after purchasing an additional 6,234 shares during the last quarter. Bristlecone Advisors LLC grew its position in Albemarle by 20.5% in the 4th quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company's stock worth $2,481,000 after purchasing an additional 4,899 shares during the last quarter. Waldron Private Wealth LLC grew its position in Albemarle by 172.1% in the 4th quarter. Waldron Private Wealth LLC now owns 6,405 shares of the specialty chemicals company's stock worth $554,000 after purchasing an additional 4,051 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Albemarle in the 4th quarter worth $218,000. Finally, Renaissance Technologies LLC grew its position in Albemarle by 2,151.9% in the 4th quarter. Renaissance Technologies LLC now owns 60,800 shares of the specialty chemicals company's stock worth $5,234,000 after purchasing an additional 58,100 shares during the last quarter. Institutional investors own 92.87% of the company's stock.
Albemarle Price Performance
Shares of ALB stock traded down $0.68 during trading hours on Monday, reaching $55.08. 3,666,229 shares of the company were exchanged, compared to its average volume of 2,857,396. Albemarle Co. has a fifty-two week low of $49.43 and a fifty-two week high of $124.84. The stock's fifty day moving average is $59.00 and its two-hundred day moving average is $78.17. The company has a market cap of $6.48 billion, a price-to-earnings ratio of -4.92 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19.
Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly 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 business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.18 billion. Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. Albemarle's revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. Sell-side analysts forecast that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.
Albemarle Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. Albemarle's payout ratio is presently -14.57%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Mizuho decreased their target price on shares of Albemarle from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Morgan Stanley decreased their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Albemarle from $109.00 to $105.00 in a research report on Wednesday, February 12th. UBS Group decreased their target price on shares of Albemarle from $86.00 to $64.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Robert W. Baird decreased their target price on shares of Albemarle from $77.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, 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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