Mizuho Markets Cayman LP purchased a new position in shares of Albemarle Co. (NYSE:ALB – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,619 shares of the specialty chemicals company’s stock, valued at approximately $1,086,000. Albemarle accounts for approximately 2.5% of Mizuho Markets Cayman LP’s holdings, making the stock its 10th biggest position.
Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Albemarle by 38.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after acquiring an additional 282,194 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Albemarle by 71.5% in the fourth quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company’s stock valued at $1,287,000 after purchasing an additional 6,234 shares during the last quarter. Bristlecone Advisors LLC lifted its stake in Albemarle by 20.5% in the fourth quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company’s stock valued at $2,481,000 after buying an additional 4,899 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Albemarle by 28.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company’s stock worth $40,067,000 after buying an additional 93,718 shares during the last quarter. Finally, FMR LLC grew its position in shares of Albemarle by 67.3% during the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after buying an additional 264,756 shares during the period. 92.87% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on ALB shares. Piper Sandler reduced their price objective on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. UBS Group reduced their price target on shares of Albemarle from $99.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird lowered their price objective on shares of Albemarle from $103.00 to $92.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Royal Bank of Canada reduced their target price on Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Albemarle presently has an average rating of “Hold” and an average target price of $104.30.
Albemarle Price Performance
Shares of NYSE ALB opened at $77.57 on Friday. Albemarle Co. has a fifty-two week low of $67.23 and a fifty-two week high of $137.50. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -6.93 and a beta of 1.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. The business has a 50-day moving average of $81.70 and a 200-day moving average of $91.03.
Albemarle (NYSE:ALB – Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. As a group, sell-side analysts predict that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.
Albemarle Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, March 14th. This represents a $1.62 annualized dividend and a dividend yield of 2.09%. Albemarle’s dividend payout ratio is presently -14.46%.
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.
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