Bristlecone Advisors LLC Has $517,000 Stock Holdings in Albemarle Corporation $ALB

Bristlecone Advisors LLC decreased its holdings in Albemarle Corporation (NYSE:ALB) by 50.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,371 shares of the specialty chemicals company’s stock after selling 6,526 shares during the period. Bristlecone Advisors LLC’s holdings in Albemarle were worth $517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 111 shares during the last quarter. CVA Family Office LLC raised its position in Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 483 shares during the period. Finally, Assetmark Inc. grew its position in shares of Albemarle by 248.0% in the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 491 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Price Performance

Albemarle stock opened at $161.41 on Monday. The company has a market cap of $19.00 billion, a price-to-earnings ratio of -101.51, a PEG ratio of 6.78 and a beta of 1.41. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $164.98. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. The business’s 50 day simple moving average is $128.81 and its 200 day simple moving average is $97.82.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.73. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.55) earnings per share. Sell-side analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 12th. Albemarle’s dividend payout ratio (DPR) is presently -101.89%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALB shares. Truist Financial set a $125.00 target price on Albemarle in a report on Wednesday, December 17th. Argus upped their price objective on shares of Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Baird R W raised shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Albemarle from $110.00 to $125.00 and gave the company a “hold” rating in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets increased their price target on Albemarle from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $125.28.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.