Mutual of America Capital Management LLC Has $2.42 Million Position in Albemarle Co. (NYSE:ALB)

Mutual of America Capital Management LLC lowered its holdings in Albemarle Co. (NYSE:ALB) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,775 shares of the specialty chemicals company’s stock after selling 835 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Albemarle were worth $2,424,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. acquired a new stake in Albemarle in the 3rd quarter valued at $25,000. Covestor Ltd grew its position in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 44 shares during the period. Arlington Trust Co LLC bought a new position in Albemarle during the 4th quarter valued at $30,000. City State Bank lifted its stake in Albemarle by 60.0% during the 3rd quarter. City State Bank now owns 200 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 75 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new position in Albemarle during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ALB shares. Oppenheimer dropped their price objective on Albemarle from $191.00 to $188.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Bank of America upgraded Albemarle from a “neutral” rating to a “buy” rating and raised their price objective for the company from $137.00 to $156.00 in a research note on Wednesday, April 10th. Vertical Research cut Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price objective on the stock. in a research note on Friday, March 8th. UBS Group dropped their price objective on Albemarle from $137.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Finally, Wolfe Research started coverage on Albemarle in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $175.05.

Albemarle Trading Up 0.3 %

Shares of ALB opened at $112.15 on Friday. The business has a 50-day moving average of $123.05 and a 200 day moving average of $129.47. Albemarle Co. has a fifty-two week low of $106.69 and a fifty-two week high of $247.44. The firm has a market cap of $13.18 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47.

Albemarle (NYSE:ALB) last announced its quarterly earnings data 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. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the firm posted $8.62 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, research analysts forecast that Albemarle Co. will post 3.09 EPS for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently 11.99%.

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.