Dimensional Fund Advisors LP Has $119.71 Million Position in Albemarle Corporation $ALB

Dimensional Fund Advisors LP raised its position in Albemarle Corporation (NYSE:ALB) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,475,832 shares of the specialty chemicals company’s stock after purchasing an additional 52,698 shares during the period. Dimensional Fund Advisors LP owned approximately 1.25% of Albemarle worth $119,710,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Cromwell Holdings LLC grew its holdings in shares of Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 111 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new position in Albemarle in the third quarter valued at about $40,000. Assetmark Inc. increased its holdings in shares of Albemarle by 248.0% in the second quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock worth $43,000 after acquiring an additional 491 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Albemarle by 70.4% during the third quarter. Hantz Financial Services Inc. now owns 692 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 286 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Price Performance

NYSE ALB opened at $167.93 on Thursday. The firm’s 50 day moving average is $170.16 and its 200-day moving average is $127.54. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $19.79 billion, a PE ratio of -29.21, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $206.00.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted ($1.09) EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Albemarle’s payout ratio is currently -28.17%.

Analysts Set New Price Targets

ALB has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price objective on Albemarle from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Robert W. Baird set a $210.00 price target on shares of Albemarle and gave the company an “outperform” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a research report on Monday, December 29th. Mizuho raised their price objective on shares of Albemarle from $156.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Albemarle has a consensus rating of “Moderate Buy” and an average price target of $170.24.

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.