SG Americas Securities LLC Grows Stake in Albemarle Co. (NYSE:ALB)

SG Americas Securities LLC increased its holdings in Albemarle Co. (NYSE:ALBFree Report) by 209.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,295 shares of the specialty chemicals company’s stock after purchasing an additional 10,359 shares during the period. SG Americas Securities LLC’s holdings in Albemarle were worth $2,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 104,426,113 shares in the last quarter. Barclays PLC raised its position in shares of Albemarle by 142.3% during the 3rd quarter. Barclays PLC now owns 1,043,861 shares of the specialty chemicals company’s stock valued at $177,499,000 after buying an additional 612,963 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Albemarle by 6.0% in the 2nd quarter. BlackRock Inc. now owns 10,157,015 shares of the specialty chemicals company’s stock valued at $2,265,928,000 after acquiring an additional 575,007 shares during the last quarter. Morgan Stanley grew its position in Albemarle by 45.6% in the fourth quarter. Morgan Stanley now owns 1,378,866 shares of the specialty chemicals company’s stock worth $299,021,000 after acquiring an additional 432,155 shares in the last quarter. Finally, Norges Bank bought a new stake in Albemarle during the fourth quarter worth approximately $75,802,000. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Up 8.2 %

NYSE:ALB opened at $128.79 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. Albemarle Co. has a 1-year low of $106.69 and a 1-year high of $247.44. The company has a 50-day moving average of $120.77 and a 200 day moving average of $135.19. The firm has a market cap of $15.12 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 2.20 and a beta of 1.62.

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

Albemarle Dividend Announcement

The business also recently declared 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 of this dividend is Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.24%. Albemarle’s dividend payout ratio is presently 11.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada dropped their target price on Albemarle from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Wells Fargo & Company cut their price objective on shares of Albemarle from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Piper Sandler lowered shares of Albemarle from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $140.00 to $128.00 in a report on Tuesday, December 5th. Deutsche Bank Aktiengesellschaft lowered Albemarle from a “buy” rating to a “hold” rating and dropped their target price for the company from $155.00 to $135.00 in a research report on Thursday, January 11th. Finally, UBS Group reduced 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. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $176.70.

Read Our Latest Stock Analysis on Albemarle

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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