Oregon Public Employees Retirement Fund Has $1.10 Million Stake in Albemarle Corporation $ALB

Oregon Public Employees Retirement Fund lifted its holdings in shares of Albemarle Corporation (NYSE:ALB) by 32.7% during the third quarter, HoldingsChannel reports. The firm owned 13,515 shares of the specialty chemicals company’s stock after acquiring an additional 3,327 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Albemarle were worth $1,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares in the last quarter. Cromwell Holdings LLC lifted 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 valued at $34,000 after purchasing an additional 111 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of 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 buying an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 483 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Albemarle by 248.0% in the second quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock valued at $43,000 after acquiring an additional 491 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Down 2.1%

ALB stock opened at $173.75 on Friday. The stock’s 50 day moving average is $135.40 and its 200-day moving average is $100.41. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $179.14. The firm has a market capitalization of $20.45 billion, a PE ratio of -109.28, a P/E/G ratio of 6.78 and a beta of 1.41. 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 (NYSE:ALB) last issued its quarterly earnings data 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 negative net margin of 0.43% and a positive return on equity of 0.10%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm posted ($1.55) EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts expect that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, December 12th. Albemarle’s dividend payout ratio is currently -101.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Stephens reaffirmed an “outperform” rating on shares of Albemarle in a report on Friday, December 19th. Baird R W raised shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. UBS Group boosted their price objective on Albemarle from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley reiterated an “equal weight” rating on shares of Albemarle in a report on Friday, December 19th. Finally, Rothschild & Co Redburn increased 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. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.