Albemarle Co. (NYSE:ALB) Shares Acquired by Oak Thistle LLC

Oak Thistle LLC raised its holdings in shares of Albemarle Co. (NYSE:ALBFree Report) by 464.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,122 shares of the specialty chemicals company’s stock after acquiring an additional 5,860 shares during the quarter. Oak Thistle LLC’s holdings in Albemarle were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new position in shares of Albemarle during the 3rd quarter worth approximately $25,000. Covestor Ltd boosted its stake in shares of Albemarle by 51.2% during the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the last quarter. City State Bank grew its holdings in shares of Albemarle by 60.0% during the third quarter. City State Bank now owns 200 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 75 shares in the last quarter. Tyler Stone Wealth Management acquired a new position in Albemarle in the 3rd quarter valued at $35,000. Finally, McIlrath & Eck LLC lifted its position in Albemarle by 39.0% during the fourth quarter. McIlrath & Eck LLC now owns 164 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Albemarle from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, February 16th. KeyCorp dropped their target price on Albemarle from $178.00 to $159.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Piper Sandler downgraded shares of Albemarle from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $140.00 to $128.00 in a research note on Tuesday, December 5th. Loop Capital cut their price objective on shares of Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Vertical Research downgraded Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Albemarle currently has an average rating of “Hold” and a consensus target price of $176.70.

View Our Latest Analysis on ALB

Albemarle Trading Down 1.8 %

Shares of NYSE:ALB traded down $2.36 during mid-day trading on Tuesday, hitting $126.82. The stock had a trading volume of 1,486,537 shares, compared to its average volume of 3,423,686. Albemarle Co. has a 12-month low of $106.69 and a 12-month high of $247.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The company has a market cap of $14.91 billion, a PE ratio of 9.46, a P/E/G ratio of 2.61 and a beta of 1.62. The company’s 50 day moving average is $121.54 and its 200-day moving average is $133.69.

Albemarle (NYSE:ALBGet Free Report) last released its earnings results on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.86. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.62 EPS. On average, sell-side analysts predict that Albemarle Co. will post 3.15 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.26%. Albemarle’s dividend payout ratio is currently 11.99%.

Albemarle Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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