Albemarle Co. (NYSE:ALB) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of Albemarle Co. (NYSE:ALB) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,990,762 shares of the specialty chemicals company’s stock after acquiring an additional 25,207 shares during the quarter. ProShare Advisors LLC owned about 1.69% of Albemarle worth $171,365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALB. MassMutual Private Wealth & Trust FSB boosted its position in shares of Albemarle by 48.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 136 shares during the period. First Community Trust NA lifted its holdings in Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 142 shares during the last quarter. Metis Global Partners LLC lifted 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 buying an additional 148 shares during the last quarter. SlateStone Wealth LLC lifted its holdings in Albemarle by 3.3% during the 4th quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company’s stock worth $401,000 after buying an additional 150 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings 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. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

ALB opened at $60.75 on Thursday. The company has a market cap of $7.15 billion, a PE ratio of -5.42 and a beta of 1.71. The stock has a 50-day moving average of $63.78 and a 200-day moving average of $82.29. Albemarle Co. has a 52-week low of $49.43 and a 52-week high of $137.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.44. Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.26 EPS. The firm’s revenue was down 20.9% on a year-over-year basis. As a group, equities research analysts forecast that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, June 13th. This represents a $1.62 annualized dividend and a dividend yield of 2.67%. Albemarle’s dividend payout ratio is presently -14.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALB. BMO Capital Markets cut their price target on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. StockNews.com upgraded Albemarle to a “sell” rating in a research report on Monday, May 5th. Citigroup lowered their target price on Albemarle from $85.00 to $64.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Truist Financial lowered their price target on Albemarle from $85.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Finally, Scotiabank decreased their target price on Albemarle from $75.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.43.

Albemarle 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.