Jamison Private Wealth Management Inc. Cuts Stock Holdings in Albemarle Corporation (NYSE:ALB)

Jamison Private Wealth Management Inc. lessened its position in Albemarle Corporation (NYSE:ALB) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,052 shares of the specialty chemicals company’s stock after selling 523 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Albemarle were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Metis Global Partners LLC boosted its stake in shares of Albemarle by 3.9% in the 4th quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock valued at $336,000 after buying an additional 148 shares during the period. SlateStone Wealth LLC raised its holdings in Albemarle by 3.3% in the fourth quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company’s stock valued at $401,000 after acquiring an additional 150 shares in the last quarter. Toronto Dominion Bank lifted its stake in Albemarle by 0.4% in the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company’s stock worth $3,414,000 after acquiring an additional 158 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Albemarle by 34.0% in the fourth quarter. Lindbrook Capital LLC now owns 626 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 159 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Albemarle by 62.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALB has been the subject of several recent analyst reports. TD Securities decreased their price objective on shares of Albemarle from $115.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Robert W. Baird decreased their price target on Albemarle from $77.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on Albemarle from $80.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley cut their target price on Albemarle from $68.00 to $58.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Piper Sandler set a $68.00 target price on Albemarle and gave the stock an “underweight” rating in a research note on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Albemarle currently has an average rating of “Hold” and a consensus price target of $91.62.

Albemarle Price Performance

Shares of NYSE:ALB opened at $56.72 on Friday. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of -5.10 and a beta of 1.61. The company has a 50-day simple moving average of $58.33 and a 200-day simple moving average of $73.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 2.11.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.44. Albemarle had a negative return on equity of 1.92% and a negative net margin of 22.39%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.405 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.62 dividend on an annualized basis and a yield of 2.86%. Albemarle’s dividend payout ratio (DPR) is -14.57%.

Albemarle Company 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.