Nomura Asset Management Co. Ltd. Boosts Stock Holdings in Albemarle Co. (NYSE:ALB)

Nomura Asset Management Co. Ltd. grew its position in Albemarle Co. (NYSE:ALB) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,745 shares of the specialty chemicals company’s stock after purchasing an additional 22,696 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Albemarle were worth $38,370,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ALB. New Age Alpha Advisors LLC purchased a new stake in Albemarle in the 4th quarter valued at about $5,133,000. Norges Bank purchased a new stake in shares of Albemarle during the fourth quarter valued at approximately $39,405,000. NEOS Investment Management LLC lifted its holdings in Albemarle by 28.4% during the fourth quarter. NEOS Investment Management LLC now owns 5,612 shares of the specialty chemicals company’s stock worth $483,000 after acquiring an additional 1,242 shares during the period. UniSuper Management Pty Ltd boosted its position in Albemarle by 7.2% in the fourth quarter. UniSuper Management Pty Ltd now owns 19,880 shares of the specialty chemicals company’s stock worth $1,711,000 after purchasing an additional 1,334 shares during the last quarter. Finally, Sava Infond d.o.o. bought a new position in Albemarle in the 4th quarter valued at $2,325,000. 92.87% of the stock is owned by institutional investors.

Albemarle Stock Down 3.4 %

Shares of NYSE:ALB opened at $72.21 on Friday. The company has a market cap of $8.49 billion, a price-to-earnings ratio of -6.45 and a beta of 1.70. Albemarle Co. has a one year low of $67.23 and a one year high of $137.50. The firm has a fifty day moving average price of $79.84 and a two-hundred day moving average price of $90.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Analysts anticipate that Albemarle Co. will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, March 14th. Albemarle’s dividend payout ratio is currently -14.46%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Citigroup reduced their target price on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. KeyCorp lowered their price target on shares of Albemarle from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Morgan Stanley reduced their price objective on Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Finally, Robert W. Baird lowered their target price on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.30.

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.