Creative Financial Designs Inc. ADV Trims Stock Position in Albemarle Co. (NYSE:ALB)

Creative Financial Designs Inc. ADV cut its stake in shares of Albemarle Co. (NYSE:ALBFree Report) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 970 shares of the specialty chemicals company’s stock after selling 209 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Albemarle were worth $140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC increased its position in Albemarle by 124,405.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 104,510,053 shares of the specialty chemicals company’s stock worth $22,664,050,000 after purchasing an additional 104,426,113 shares during the period. Vanguard Group Inc. increased its position in Albemarle by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,661,001 shares of the specialty chemicals company’s stock worth $3,021,130,000 after purchasing an additional 75,867 shares during the period. BlackRock Inc. increased its position in Albemarle by 6.0% during the 2nd quarter. BlackRock Inc. now owns 10,157,015 shares of the specialty chemicals company’s stock worth $2,265,928,000 after purchasing an additional 575,007 shares during the period. State Street Corp increased its position in Albemarle by 0.3% during the 1st quarter. State Street Corp now owns 5,364,655 shares of the specialty chemicals company’s stock worth $1,188,408,000 after purchasing an additional 16,968 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Albemarle by 33.8% in the 2nd quarter. Capital Research Global Investors now owns 3,381,656 shares of the specialty chemicals company’s stock worth $754,405,000 after acquiring an additional 853,971 shares during the period. 84.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALB. UBS Group lowered their price target on Albemarle from $137.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Bank of America upgraded Albemarle from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $154.00 to $149.00 in a report on Tuesday, December 12th. Piper Sandler cut Albemarle from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $140.00 to $128.00 in a report on Tuesday, December 5th. TD Cowen lowered Albemarle from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $220.00 to $130.00 in a research note on Monday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered Albemarle from a “buy” rating to a “hold” rating and cut their target price for the stock from $155.00 to $135.00 in a research report on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Albemarle currently has a consensus rating of “Hold” and an average target price of $176.70.

Check Out Our Latest Research Report on ALB

Albemarle Price Performance

Shares of NYSE:ALB opened at $124.89 on Friday. The firm has a 50 day moving average of $121.00 and a 200-day moving average of $137.56. The stock has a market capitalization of $14.66 billion, a PE ratio of 9.36, a PEG ratio of 2.24 and a beta of 1.62. Albemarle Co. has a 12 month low of $106.69 and a 12 month high of $247.44. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALBGet Free Report) last issued its earnings results on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.86. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm earned $8.62 earnings per share. Albemarle’s revenue was down 10.1% on a year-over-year basis. On average, equities research analysts predict that Albemarle Co. will post 3.37 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.40 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. Albemarle’s dividend payout ratio is currently 11.99%.

Albemarle Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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