Albemarle Corporation $ALB Stake Lessened by Polianta Ltd

Polianta Ltd lessened its stake in shares of Albemarle Corporation (NYSE:ALB) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,200 shares of the specialty chemicals company’s stock after selling 3,700 shares during the quarter. Polianta Ltd’s holdings in Albemarle were worth $1,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC raised its stake in shares of Albemarle by 2.8% in the 2nd quarter. SlateStone Wealth LLC now owns 5,415 shares of the specialty chemicals company’s stock worth $339,000 after buying an additional 145 shares in the last quarter. Moran Wealth Management LLC grew its holdings in Albemarle by 1.6% during the second quarter. Moran Wealth Management LLC now owns 9,482 shares of the specialty chemicals company’s stock worth $594,000 after acquiring an additional 148 shares during the period. DekaBank Deutsche Girozentrale raised its position in Albemarle by 0.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,798 shares of the specialty chemicals company’s stock worth $1,496,000 after acquiring an additional 148 shares in the last quarter. Amalgamated Bank lifted its holdings in Albemarle by 0.8% in the 2nd quarter. Amalgamated Bank now owns 22,740 shares of the specialty chemicals company’s stock valued at $1,425,000 after acquiring an additional 184 shares during the last quarter. Finally, Norway Savings Bank lifted its holdings in Albemarle by 3.0% in the 3rd quarter. Norway Savings Bank now owns 7,163 shares of the specialty chemicals company’s stock valued at $581,000 after acquiring an additional 212 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Stock Performance

Shares of ALB stock opened at $147.35 on Friday. The company has a market capitalization of $17.34 billion, a price-to-earnings ratio of -92.67 and a beta of 1.43. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $150.72. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $117.07 and its 200-day simple moving average is $90.49.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted ($1.55) EPS. On average, sell-side analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be given a $0.405 dividend. The ex-dividend date is Friday, December 12th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Albemarle’s dividend payout ratio is presently -101.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Bank of America reiterated a “neutral” rating and issued a $100.00 target price (up from $95.00) on shares of Albemarle in a report on Tuesday, October 14th. Argus increased their price objective on Albemarle from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Stephens restated an “outperform” rating on shares of Albemarle in a report on Friday, December 19th. Robert W. Baird set a $113.00 target price on Albemarle and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Albemarle from $110.00 to $125.00 and gave the stock a “hold” rating in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $120.21.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.