Albemarle Co. (NYSE:ALB) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Albemarle Co. (NYSE:ALB) by 17.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,828 shares of the specialty chemicals company’s stock after buying an additional 5,384 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Albemarle were worth $3,084,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. TD Private Client Wealth LLC boosted its stake in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Albemarle by 48.9% in the fourth 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. First Community Trust NA boosted its stake in Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 142 shares during the last quarter. Metis Global Partners LLC grew its holdings in Albemarle by 3.9% during the 4th quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock worth $336,000 after acquiring an additional 148 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Albemarle by 5.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,982 shares of the specialty chemicals company’s stock worth $257,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

NYSE:ALB opened at $79.70 on Thursday. The company has a 50-day moving average of $82.09 and a 200-day moving average of $91.17. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of -7.12 and a beta of 1.70. 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 twelve month low of $67.23 and a twelve month high of $137.50.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Analysts forecast that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.405 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a yield of 2.03%. Albemarle’s dividend payout ratio is currently -14.46%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALB. Morgan Stanley lowered their price objective on Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Truist Financial lowered their price target on Albemarle from $96.00 to $85.00 and set a “hold” rating for the company in a report on Friday, February 14th. BMO Capital Markets reduced their price objective on Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. Mizuho decreased their price objective on shares of Albemarle from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Clarkson Capital started coverage on shares of Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Albemarle has a consensus rating of “Hold” and an average target price of $104.30.

About Albemarle

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.