Mizuho Markets Cayman LP Makes New $1.09 Million Investment in Albemarle Co. (NYSE:ALB)

Mizuho Markets Cayman LP acquired a new stake in Albemarle Co. (NYSE:ALB) during the 4th quarter, Holdings Channel.com reports. The fund acquired 12,619 shares of the specialty chemicals company’s stock, valued at approximately $1,086,000. Albemarle accounts for 2.5% of Mizuho Markets Cayman LP’s portfolio, making the stock its 10th largest holding.

Other hedge funds also recently modified their holdings of the company. Quarry LP lifted its position in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 252 shares during the last quarter. Assetmark Inc. increased its stake in shares of Albemarle by 340.6% during the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares during the period. Trust Co. of Vermont lifted its holdings in Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares during the last quarter. First Community Trust NA boosted its stake in Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares during the period. Finally, Ameliora Wealth Management Ltd. acquired a new position in Albemarle in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

Albemarle stock opened at $77.57 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The stock has a market cap of $9.12 billion, a PE ratio of -6.93 and a beta of 1.70. Albemarle Co. has a 12-month low of $67.23 and a 12-month high of $137.50. The business’s 50-day moving average price is $81.70 and its two-hundred day moving average price is $91.03.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. As a group, analysts expect that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Albemarle’s dividend payout ratio (DPR) is -14.46%.

Wall Street Analysts Forecast Growth

ALB has been the subject of a number of research reports. Clarkson Capital initiated coverage on Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price for the company. Citigroup dropped their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley decreased their target price on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Finally, KeyCorp cut their price target on Albemarle from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and a consensus target price of $104.30.

About Albemarle

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.