5,059 Shares in Albemarle Corporation $ALB Purchased by Nwam LLC

Nwam LLC bought a new stake in shares of Albemarle Corporation (NYSE:ALB) during the third quarter, HoldingsChannel reports. The institutional investor bought 5,059 shares of the specialty chemicals company’s stock, valued at approximately $410,000.

Several other hedge funds also recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of Albemarle by 10,050.0% during the 2nd 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 period. CVA Family Office LLC grew its holdings in Albemarle by 7,257.1% during the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 508 shares during the period. Cromwell Holdings LLC grew its holdings in Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Albemarle by 536.7% during 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 last quarter. Finally, Assetmark Inc. lifted its stake 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 purchasing an additional 491 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

NYSE ALB opened at $162.82 on Friday. The business has a 50 day simple moving average of $136.71 and a 200 day simple moving average of $101.37. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $179.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.27. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of -102.40, a PEG ratio of 6.22 and a beta of 1.41.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.73. The firm 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 business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.55) earnings per share. Analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Albemarle from $152.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Rothschild & Co Redburn upped 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. Royal Bank Of Canada reissued an “outperform” rating and set a $159.00 price objective on shares of Albemarle in a research note on Thursday, December 18th. Finally, TD Cowen boosted their price objective on shares of Albemarle from $70.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Albemarle currently has a consensus rating of “Moderate Buy” and an average target price of $137.75.

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.