Sumitomo Mitsui DS Asset Management Company Ltd Takes Position in Albemarle Corporation $ALB

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Albemarle Corporation (NYSE:ALB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,137 shares of the specialty chemicals company’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently bought and sold shares of ALB. AQR Capital Management LLC lifted its position in shares of Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after purchasing an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after buying an additional 996 shares during the period. United Services Automobile Association purchased a new stake in Albemarle in the 1st quarter worth approximately $208,000. Empowered Funds LLC acquired a new stake in shares of Albemarle during the 1st quarter valued at $411,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Albemarle by 202.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 990 shares of the specialty chemicals company’s stock valued at $62,000 after acquiring an additional 663 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Up 0.4%

Shares of ALB stock opened at $177.55 on Thursday. The stock’s 50 day simple moving average is $133.75 and its 200 day simple moving average is $99.90. Albemarle Corporation has a twelve month low of $49.43 and a twelve month 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 company has a market capitalization of $20.90 billion, a price-to-earnings ratio of -111.67, a PEG ratio of 7.44 and a beta of 1.41.

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

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, December 12th. Albemarle’s dividend payout ratio (DPR) is -101.89%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HSBC increased their price objective on Albemarle from $87.00 to $117.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Robert W. Baird set a $210.00 price target on Albemarle and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Jefferies Financial Group lifted their price target on Albemarle from $152.00 to $167.00 and gave the company a “buy” rating in a report on Monday, January 5th. Bank of America restated a “neutral” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Albemarle in a report on Tuesday, October 14th. Finally, Mizuho lifted their target price on shares of Albemarle from $132.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

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.