Susquehanna Fundamental Investments LLC Purchases Shares of 107,662 Albemarle Co. (NYSE:ALB)

Susquehanna Fundamental Investments LLC bought a new stake in Albemarle Co. (NYSE:ALB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 107,662 shares of the specialty chemicals company's stock, valued at approximately $9,268,000. Susquehanna Fundamental Investments LLC owned about 0.09% of Albemarle as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Albemarle during the 3rd quarter worth approximately $267,000. Tidal Investments LLC boosted its position in Albemarle by 1.5% during the third quarter. Tidal Investments LLC now owns 18,457 shares of the specialty chemicals company's stock worth $1,748,000 after purchasing an additional 274 shares during the period. Inspire Trust Co. N.A. increased its holdings in shares of Albemarle by 9.9% in the third quarter. Inspire Trust Co. N.A. now owns 11,120 shares of the specialty chemicals company's stock valued at $1,053,000 after purchasing an additional 1,000 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Albemarle by 0.7% in the third quarter. Retirement Systems of Alabama now owns 26,098 shares of the specialty chemicals company's stock valued at $2,472,000 after purchasing an additional 171 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Albemarle by 3.2% in the third quarter. Principal Financial Group Inc. now owns 135,194 shares of the specialty chemicals company's stock valued at $12,804,000 after purchasing an additional 4,131 shares during the period. Institutional investors own 92.87% of the company's stock.

Albemarle Price Performance

NYSE ALB traded up $0.77 during trading on Thursday, hitting $59.32. 5,228,640 shares of the company's stock were exchanged, compared to its average volume of 2,755,900. The company has a market cap of $6.98 billion, a PE ratio of -5.30 and a beta of 1.59. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. Albemarle Co. has a fifty-two week low of $49.43 and a fifty-two week high of $137.50. The stock's 50 day moving average price is $67.20 and its two-hundred day moving average price is $84.81.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) 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 analysts' expectations of $1.18 billion. Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. The firm's quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. Research analysts expect that Albemarle Co. 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, April 1st. Shareholders of record on Friday, March 14th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.62 annualized dividend and a yield of 2.73%. Albemarle's dividend payout ratio is presently -14.46%.

Analyst Ratings Changes

A number of brokerages recently commented on ALB. Morgan Stanley decreased their price target on shares of Albemarle from $73.00 to $68.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Truist Financial lowered their target price on Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Citigroup reduced their price target on Albemarle from $85.00 to $64.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Robert W. Baird lowered their price objective on Albemarle from $77.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, BMO Capital Markets reduced their target price on shares of Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $94.57.

Albemarle Company 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.