VCI Wealth Management LLC Purchases Shares of 11,496 Albemarle Corporation $ALB

VCI Wealth Management LLC acquired a new stake in shares of Albemarle Corporation (NYSE:ALB) in the third quarter, Holdings Channel.com reports. The firm acquired 11,496 shares of the specialty chemicals company’s stock, valued at approximately $932,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Hantz Financial Services Inc. boosted its stake in shares of Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 402 shares during the last quarter. CVA Family Office LLC raised its position in Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 508 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Albemarle by 536.7% in the second 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. Assetmark Inc. boosted its position in Albemarle by 248.0% in the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 491 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new stake in Albemarle in the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Up 0.4%

Shares of NYSE ALB opened at $147.35 on Friday. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of -92.67 and a beta of 1.43. The company’s 50-day simple moving average is $117.07 and its 200-day simple moving average is $90.49. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $150.72.

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

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, December 12th. Albemarle’s dividend payout ratio (DPR) is -101.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALB shares. Scotiabank lifted their target price on shares of Albemarle from $70.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. TD Cowen raised their price target on shares of Albemarle from $70.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Mizuho upped their price objective on shares of Albemarle from $110.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Robert W. Baird set a $113.00 target price on Albemarle and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Rothschild & Co Redburn lifted their price target on Albemarle from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $120.21.

About Albemarle

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.