Quantbot Technologies LP Sells 146,544 Shares of Albemarle Corporation $ALB

Quantbot Technologies LP trimmed its stake in Albemarle Corporation (NYSE:ALB) by 60.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,007 shares of the specialty chemicals company’s stock after selling 146,544 shares during the period. Quantbot Technologies LP owned about 0.08% of Albemarle worth $7,865,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Albemarle by 18.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 677 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 104 shares in the last quarter. Cromwell Holdings LLC increased its position in shares of Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Money Concepts Capital Corp lifted its holdings in Albemarle by 1.2% during the 3rd quarter. Money Concepts Capital Corp now owns 10,160 shares of the specialty chemicals company’s stock valued at $824,000 after purchasing an additional 116 shares during the last quarter. QRG Capital Management Inc. boosted its position in Albemarle by 3.3% in the third quarter. QRG Capital Management Inc. now owns 3,810 shares of the specialty chemicals company’s stock valued at $309,000 after buying an additional 122 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Albemarle by 2.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $563,000 after buying an additional 137 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Down 3.5%

ALB stock opened at $178.54 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $206.00. The company has a market cap of $21.04 billion, a P/E ratio of -31.05, a PEG ratio of 1.66 and a beta of 1.44. The business has a fifty day moving average of $166.65 and a 200-day moving average of $122.70.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.Albemarle’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.09) earnings per share. As a group, equities research analysts expect that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 13th. Albemarle’s payout ratio is -28.17%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALB. Jefferies Financial Group lifted their target price on shares of Albemarle from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Stephens reaffirmed an “outperform” rating on shares of Albemarle in a report on Friday, December 19th. Citigroup lifted their price objective on Albemarle from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. UBS Group boosted their price objective on Albemarle from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, HSBC upgraded Albemarle from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Monday, January 19th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Albemarle currently has an average rating of “Moderate Buy” and an average target price of $170.04.

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.