Dynamic Technology Lab Private Ltd Takes Position in Albemarle Co. (NYSE:ALB)

Dynamic Technology Lab Private Ltd bought a new position in shares of Albemarle Co. (NYSE:ALB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,880 shares of the specialty chemicals company’s stock, valued at approximately $850,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC lifted its holdings in shares of Albemarle by 50.4% during 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 period. MassMutual Private Wealth & Trust FSB raised its position 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 purchasing an additional 136 shares during the last quarter. First Community Trust NA grew its position in shares of 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 buying an additional 142 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of 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 period. Finally, SlateStone Wealth LLC raised its position in shares of Albemarle by 3.3% during 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 during the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Price Performance

ALB stock opened at $58.55 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The business has a 50-day simple moving average of $77.46 and a two-hundred day simple moving average of $90.17. The company has a market capitalization of $6.89 billion, a P/E ratio of -5.23 and a beta of 1.59. Albemarle Co. has a 52-week low of $55.13 and a 52-week high of $137.50.

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

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, March 14th. Albemarle’s dividend payout ratio (DPR) is presently -14.46%.

Analyst Upgrades and Downgrades

ALB has been the topic of several analyst reports. UBS Group reduced their target price on Albemarle from $99.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Citigroup decreased their price objective 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. Scotiabank dropped their target price on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Evercore ISI downgraded Albemarle from an “outperform” rating to an “inline” rating in a report on Wednesday, February 5th. Finally, Robert W. Baird dropped their price objective 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 assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.