Inspire Investing LLC Has $1.22 Million Position in Albemarle Co. (NYSE:ALB)

by · The Markets Daily

Inspire Investing LLC decreased its holdings in shares of Albemarle Co. (NYSE:ALB – Free Report) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,894 shares of the specialty chemicals company’s stock after selling 3,153 shares during the quarter. Inspire Investing LLC’s holdings in Albemarle were worth $1,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MONECO Advisors LLC boosted its holdings in shares of Albemarle by 6.8% during the 4th quarter. MONECO Advisors LLC now owns 4,131 shares of the specialty chemicals company’s stock worth $597,000 after buying an additional 263 shares during the period. SG Americas Securities LLC lifted its position in Albemarle by 239.7% during the second quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after acquiring an additional 37,958 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Albemarle by 22.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company’s stock worth $25,100,000 after acquiring an additional 35,003 shares during the period. MBB Public Markets I LLC grew its position in shares of Albemarle by 392.6% in the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock valued at $756,000 after purchasing an additional 6,309 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its stake in shares of Albemarle by 10.2% during the fourth quarter. Integrated Advisors Network LLC now owns 5,063 shares of the specialty chemicals company’s stock worth $731,000 after purchasing an additional 470 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALB has been the topic of a number of research reports. KeyCorp decreased their price objective on Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. HSBC lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research report on Wednesday, July 17th. Hsbc Global Res raised shares of Albemarle to a “hold” rating in a report on Wednesday, July 17th. Piper Sandler lowered their target price on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup cut their price target on Albemarle from $137.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $117.60.

Get Our Latest Stock Report on ALB

Albemarle Stock Down 0.9 %

Shares of NYSE:ALB opened at $102.02 on Monday. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $177.52. The company has a market capitalization of $11.99 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 13.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67. The company has a fifty day moving average of $88.03 and a 200-day moving average of $103.88.

Albemarle (NYSE:ALB – Get Free Report) last issued its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.49). Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $7.33 EPS. Albemarle’s revenue for the quarter was down 39.7% on a year-over-year basis. On average, equities analysts predict that Albemarle Co. will post 0.46 EPS for the current fiscal year.

Albemarle Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.405 dividend. This is a boost from Albemarle’s previous quarterly dividend of $0.40. This represents a $1.62 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, September 13th. Albemarle’s dividend payout ratio is 58.91%.

About Albemarle

(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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