Allianz SE Takes Position in Albemarle Co. (NYSE:ALB)

Allianz SE acquired a new position in shares of Albemarle Co. (NYSE:ALB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 515 shares of the specialty chemicals company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its holdings in Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Albemarle by 48.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 136 shares during the last quarter. First Community Trust NA increased its position in Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 142 shares in the last quarter. Metis Global Partners LLC raised its stake in Albemarle by 3.9% in the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock valued at $336,000 after buying an additional 148 shares during the last quarter. Finally, SlateStone Wealth LLC boosted its holdings in Albemarle by 3.3% in the fourth quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company’s stock worth $401,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

Shares of Albemarle stock opened at $72.15 on Tuesday. The firm has a market cap of $8.48 billion, a PE ratio of -6.44 and a beta of 1.70. Albemarle Co. has a twelve month low of $67.23 and a twelve month high of $137.50. 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 business has a 50-day moving average price of $79.33 and a 200 day moving average price of $90.76.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share 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%. Sell-side analysts predict that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.405 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.62 annualized dividend and a dividend yield of 2.25%. Albemarle’s dividend payout ratio (DPR) is -14.46%.

Wall Street Analyst Weigh In

ALB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Robert W. Baird lowered their price objective on shares of Albemarle from $103.00 to $92.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Piper Sandler reduced their target price on Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets dropped their price target on Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. Finally, Truist Financial decreased their target price on Albemarle from $96.00 to $85.00 and set a “hold” rating for the company in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.