Pacer Advisors Inc. Cuts Stake in Albemarle Co. (NYSE:ALB)

Pacer Advisors Inc. reduced its position in Albemarle Co. (NYSE:ALBFree Report) by 71.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,577 shares of the specialty chemicals company’s stock after selling 27,045 shares during the quarter. Pacer Advisors Inc.’s holdings in Albemarle were worth $1,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Strategies LLC increased its position in Albemarle by 149.3% during the 3rd quarter. Eagle Strategies LLC now owns 14,058 shares of the specialty chemicals company’s stock valued at $2,391,000 after buying an additional 8,420 shares in the last quarter. Deutsche Bank AG increased its position in Albemarle by 5.4% during the 3rd quarter. Deutsche Bank AG now owns 283,876 shares of the specialty chemicals company’s stock valued at $48,270,000 after buying an additional 14,593 shares in the last quarter. Kestra Advisory Services LLC increased its position in Albemarle by 80.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 19,757 shares of the specialty chemicals company’s stock valued at $3,359,000 after buying an additional 8,799 shares in the last quarter. Ameriprise Financial Inc. increased its position in Albemarle by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 412,821 shares of the specialty chemicals company’s stock valued at $70,179,000 after buying an additional 33,662 shares in the last quarter. Finally, Gendell Jeffrey L acquired a new position in Albemarle during the 3rd quarter valued at about $6,802,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALB. UBS Group reduced their target price on Albemarle from $137.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, February 15th. Piper Sandler downgraded Albemarle from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $140.00 to $128.00 in a research note on Tuesday, December 5th. Wells Fargo & Company dropped their price target on Albemarle from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Citigroup downgraded Albemarle from a “buy” rating to a “neutral” rating and dropped their price target for the company from $175.00 to $120.00 in a research note on Friday, February 9th. Finally, Loop Capital dropped their price target on Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $176.70.

Check Out Our Latest Stock Report on Albemarle

Albemarle Stock Performance

Shares of ALB stock opened at $131.74 on Monday. The stock has a market capitalization of $15.48 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 2.61 and a beta of 1.62. Albemarle Co. has a 52-week low of $106.69 and a 52-week high of $247.44. The stock’s 50-day moving average price is $121.37 and its 200 day moving average price is $134.09. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALBGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.86. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the company earned $8.62 EPS. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, equities research analysts forecast that Albemarle Co. will post 3.15 EPS for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 14th. Albemarle’s dividend payout ratio (DPR) is 11.99%.

Albemarle 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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