Arkadios Wealth Advisors Sells 110 Shares of Albemarle Co. (NYSE:ALB)

Arkadios Wealth Advisors decreased its stake in shares of Albemarle Co. (NYSE:ALB) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,928 shares of the specialty chemicals company’s stock after selling 110 shares during the period. Arkadios Wealth Advisors’ holdings in Albemarle were worth $277,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Primecap Management Co. CA boosted its holdings in shares of Albemarle by 2.4% during the 2nd quarter. Primecap Management Co. CA now owns 3,813,054 shares of the specialty chemicals company’s stock worth $364,223,000 after buying an additional 87,970 shares during the period. Jane Street Group LLC boosted its holdings in shares of Albemarle by 176.6% during the 1st quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock worth $209,333,000 after buying an additional 3,662,117 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Albemarle by 10.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,568,602 shares of the specialty chemicals company’s stock worth $149,833,000 after buying an additional 144,705 shares during the period. Dimensional Fund Advisors LP raised its stake in Albemarle by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock worth $125,264,000 after purchasing an additional 29,721 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in Albemarle by 11.9% in the 2nd quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company’s stock worth $114,503,000 after purchasing an additional 127,615 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Albemarle from $128.00 to $111.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Oppenheimer dropped their price objective on shares of Albemarle from $188.00 to $178.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Piper Sandler dropped their price objective on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. UBS Group dropped their price objective on shares of Albemarle from $124.00 to $109.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Scotiabank dropped their price objective on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $117.30.

Albemarle Trading Down 0.8 %

ALB opened at $94.73 on Friday. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.75. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of -20.03, a PEG ratio of 13.81 and a beta of 1.54. The company’s 50 day moving average price is $92.20 and its two-hundred day moving average price is $101.10.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $7.33 earnings per share. The company’s revenue was down 39.7% compared to the same quarter last year. As a group, research analysts predict that Albemarle Co. will post 0.46 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is currently -34.25%.

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.