Corient Private Wealth LLC Has $1.24 Million Stock Position in Albemarle Co. (NYSE:ALB)

Corient Private Wealth LLC cut its holdings in Albemarle Co. (NYSE:ALB) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,408 shares of the specialty chemicals company’s stock after selling 586 shares during the quarter. Corient Private Wealth LLC’s holdings in Albemarle were worth $1,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALB. Geode Capital Management LLC lifted its stake in shares of Albemarle by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock valued at $258,797,000 after acquiring an additional 14,874 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Albemarle by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,970 shares of the specialty chemicals company’s stock worth $89,607,000 after purchasing an additional 20,380 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Albemarle in the fourth quarter valued at about $85,570,000. Empower Advisory Group LLC boosted its stake in shares of Albemarle by 5.1% during the fourth quarter. Empower Advisory Group LLC now owns 741,484 shares of the specialty chemicals company’s stock valued at $63,827,000 after purchasing an additional 35,765 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Albemarle by 67.3% during the third quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after purchasing an additional 264,756 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALB. Evercore ISI lowered shares of Albemarle from an “outperform” rating to an “inline” rating in a report on Wednesday, February 5th. Truist Financial dropped their price target on shares of Albemarle from $96.00 to $85.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Royal Bank of Canada reduced their price objective on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Clarkson Capital started coverage on Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price for the company. Finally, Scotiabank reduced their price target on Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $104.30.

Albemarle Price Performance

ALB stock opened at $75.73 on Thursday. Albemarle Co. has a 1 year low of $67.23 and a 1 year high of $137.50. The stock has a market capitalization of $8.90 billion, a PE ratio of -6.76 and a beta of 1.70. The company’s 50-day moving average is $80.74 and its 200-day moving average is $90.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Equities research analysts expect that Albemarle Co. will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a yield of 2.14%. Albemarle’s dividend payout ratio (DPR) is presently -14.46%.

Albemarle Profile

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.