Oak Thistle LLC Purchases New Holdings in Albemarle Corporation $ALB

by · The Markets Daily

Oak Thistle LLC acquired a new position in shares of Albemarle Corporation (NYSE:ALB – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,899 shares of the specialty chemicals company’s stock, valued at approximately $1,289,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SlateStone Wealth LLC lifted its holdings in shares of Albemarle by 2.8% during the second quarter. SlateStone Wealth LLC now owns 5,415 shares of the specialty chemicals company’s stock valued at $339,000 after purchasing an additional 145 shares during the last quarter. Moran Wealth Management LLC raised its stake in Albemarle by 1.6% during the second quarter. Moran Wealth Management LLC now owns 9,482 shares of the specialty chemicals company’s stock valued at $594,000 after buying an additional 148 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Albemarle by 0.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,798 shares of the specialty chemicals company’s stock worth $1,496,000 after acquiring an additional 148 shares in the last quarter. Amalgamated Bank grew its stake in shares of Albemarle by 0.8% in the second quarter. Amalgamated Bank now owns 22,740 shares of the specialty chemicals company’s stock worth $1,425,000 after acquiring an additional 184 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Albemarle by 1.3% in the second quarter. MML Investors Services LLC now owns 16,991 shares of the specialty chemicals company’s stock worth $1,065,000 after acquiring an additional 217 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Up 2.8%

ALB opened at $134.73 on Thursday. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of -84.74 and a beta of 1.43. The firm has a 50 day moving average price of $111.05 and a 200-day moving average price of $87.05. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $138.69. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Albemarle (NYSE:ALB – Get Free Report) last issued its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.73. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted ($1.55) earnings per share. Equities research analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, December 12th. Albemarle’s dividend payout ratio is -101.89%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALB shares. Royal Bank Of Canada lifted their price target on Albemarle from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Cowen restated a “hold” rating on shares of Albemarle in a research note on Thursday, October 9th. Morgan Stanley upgraded shares of Albemarle from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $58.00 to $147.00 in a research note on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a research report on Monday. Finally, Truist Financial set a $125.00 price objective on shares of Albemarle in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $114.13.

Get Our Latest Stock Analysis on ALB

Albemarle Profile

(Free Report)

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.

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