Quantbot Technologies LP Takes Position in Albemarle Corporation $ALB

Quantbot Technologies LP bought a new stake in Albemarle Corporation (NYSE:ALB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,521 shares of the specialty chemicals company’s stock, valued at approximately $1,421,000.

A number of other institutional investors have also added to or reduced their stakes in ALB. Addison Advisors LLC acquired a new stake in shares of Albemarle during the 2nd quarter worth approximately $28,000. Elyxium Wealth LLC bought a new position in Albemarle in the fourth quarter worth $34,000. Torren Management LLC bought a new position in Albemarle in the fourth quarter worth $38,000. Sound Income Strategies LLC boosted its stake in Albemarle by 190.1% during the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 192 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in Albemarle by 121.5% during the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 164 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ALB shares. Zacks Research cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Robert W. Baird lowered their target price on shares of Albemarle from $236.00 to $224.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Mizuho dropped their price target on shares of Albemarle from $205.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Scotiabank cut their price target on shares of Albemarle from $200.00 to $190.00 and set a “sector outperform” rating for the company in a research note on Monday, August 10th. Finally, Citigroup decreased their price objective on Albemarle from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.04.

Albemarle Stock Down 5.9%

Shares of NYSE:ALB opened at $133.14 on Wednesday. Albemarle Corporation has a 12 month low of $71.25 and a 12 month high of $221.00. The company’s 50-day moving average price is $130.83 and its two-hundred day moving average price is $160.25. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.22. The firm has a market cap of $15.71 billion, a P/E ratio of 493.12 and a beta of 1.33.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $0.11 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, research analysts forecast that Albemarle Corporation will post 11.63 EPS for the current fiscal year.

Albemarle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $0.41 dividend. This is a boost from Albemarle’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, September 11th. This represents a $1.64 annualized dividend and a yield of 1.2%. Albemarle’s dividend payout ratio is presently 600.00%.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.