Dynamic Technology Lab Private Ltd Buys New Shares in Albemarle Co. (NYSE:ALB)

Dynamic Technology Lab Private Ltd purchased a new stake in Albemarle Co. (NYSE:ALB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,880 shares of the specialty chemicals company’s stock, valued at approximately $850,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 252 shares in the last quarter. Assetmark Inc. raised its stake in shares of Albemarle by 340.6% during the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Albemarle by 50.4% in 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. Finally, First Community Trust NA grew its stake in shares of Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 142 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Price Performance

Albemarle stock opened at $58.55 on Monday. The stock’s fifty day moving average price is $77.46 and its two-hundred day moving average price is $90.17. The firm has a market cap of $6.89 billion, a PE ratio of -5.23 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. Albemarle Co. has a one year low of $55.13 and a one year high of $137.50.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share 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%. As a group, research analysts expect that Albemarle Co. will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.62 annualized dividend and a dividend yield of 2.77%. Albemarle’s dividend payout ratio is currently -14.46%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird cut their price target on shares of Albemarle from $103.00 to $92.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada reduced their price target on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Evercore ISI lowered Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday, February 5th. Scotiabank cut their price objective on Albemarle from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Finally, BMO Capital Markets decreased their target price on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.30.

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.