Albemarle Co. (NYSE:ALB) Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its position in Albemarle Co. (NYSE:ALB) by 55.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,953 shares of the specialty chemicals company’s stock after acquiring an additional 2,480 shares during the quarter. Sterling Capital Management LLC’s holdings in Albemarle were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in 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 during the period. Trust Co. of Vermont lifted its position in Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares in the last quarter. First Community Trust NA grew its position in 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 acquiring an additional 142 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Albemarle during the fourth quarter worth $34,000. Finally, Ameliora Wealth Management Ltd. acquired a new stake in Albemarle during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

ALB opened at $52.88 on Friday. Albemarle Co. has a twelve month low of $49.43 and a twelve month high of $137.50. The stock has a market cap of $6.22 billion, a PE ratio of -4.72 and a beta of 1.59. The business’s 50 day moving average is $71.52 and its 200-day moving average is $87.49. 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 (NYSE:ALB) last released its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. On average, analysts predict that Albemarle Co. will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, March 14th. Albemarle’s payout ratio is -14.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALB. Truist Financial lowered their target price on Albemarle from $85.00 to $65.00 and set a “hold” rating for the company in a research note on Monday. Scotiabank reduced their target price on Albemarle from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. KeyCorp cut their price target on shares of Albemarle from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho cut their target price on shares of Albemarle from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, UBS Group cut their price objective on Albemarle from $86.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $96.05.

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.