Albemarle Co. (NYSE:ALB) Position Boosted by Quantinno Capital Management LP

Quantinno Capital Management LP increased its holdings in Albemarle Co. (NYSE:ALB) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,909 shares of the specialty chemicals company’s stock after purchasing an additional 10,663 shares during the quarter. Quantinno Capital Management LP’s holdings in Albemarle were worth $4,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALB. Assetmark Inc. increased its holdings in shares of Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 235 shares in the last quarter. Trust Co. of Vermont grew 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 worth $28,000 after acquiring an additional 279 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Albemarle during the fourth quarter worth $34,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Albemarle during the fourth quarter valued at $35,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 136 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB opened at $60.15 on Monday. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -5.37 and a beta of 1.71. The company’s fifty day moving average is $63.20 and its 200-day moving average is $81.59. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. Albemarle Co. has a 12 month low of $49.43 and a 12 month high of $131.00.

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

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, June 13th. Albemarle’s dividend payout ratio is -14.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALB. Piper Sandler cut their price objective on Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Robert W. Baird cut their price target on shares of Albemarle from $77.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. StockNews.com raised shares of Albemarle to a “sell” rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. Finally, KeyCorp decreased their target price on Albemarle from $102.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. 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 data from MarketBeat, Albemarle presently has an average rating of “Hold” and a consensus price target of $92.43.

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.