UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Albemarle Co. (NYSE:ALB - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 758,758 shares of the specialty chemicals company's stock after buying an additional 58,338 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.65% of Albemarle worth $65,314,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 235 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Albemarle during the 4th quarter worth about $34,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Albemarle during the 4th quarter worth about $35,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 136 shares in the last quarter. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Albemarle in the fourth quarter valued at about $39,000. Institutional investors own 92.87% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Scotiabank decreased their price target on Albemarle from $75.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird decreased their target price on shares of Albemarle from $77.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on shares of Albemarle from $80.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. BMO Capital Markets cut their price target on shares of Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada lowered their price objective on shares of Albemarle from $133.00 to $114.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Albemarle presently has a consensus rating of "Hold" and a consensus price target of $91.62.
View Our Latest Research Report on ALB
Albemarle Price Performance
Shares of NYSE ALB traded down $0.73 during midday trading on Wednesday, reaching $58.06. The company's stock had a trading volume of 2,430,012 shares, compared to its average volume of 2,814,477. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The company has a market cap of $6.83 billion, a P/E ratio of -5.18 and a beta of 1.71. The business's 50 day moving average price is $60.64 and its two-hundred day moving average price is $79.71. Albemarle Co. has a fifty-two week low of $49.43 and a fifty-two week high of $126.36.
Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.44. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.18 billion. Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. The company's quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. On average, analysts forecast that Albemarle Co. will post -0.04 EPS for the current fiscal year.
Albemarle Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.62 dividend on an annualized basis and a yield of 2.79%. Albemarle's payout ratio is -14.57%.
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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