Quantbot Technologies LP Has $7.87 Million Stock Position in Albemarle Corporation $ALB

Quantbot Technologies LP cut its stake in shares of Albemarle Corporation (NYSE:ALB) by 60.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,007 shares of the specialty chemicals company’s stock after selling 146,544 shares during the period. Quantbot Technologies LP’s holdings in Albemarle were worth $7,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALB. Aster Capital Management DIFC Ltd bought a new position in Albemarle during the third quarter worth about $78,000. Handelsbanken Fonder AB increased its stake in shares of Albemarle by 161.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 80,920 shares of the specialty chemicals company’s stock valued at $6,561,000 after acquiring an additional 49,920 shares during the last quarter. DNB Asset Management AS acquired a new stake in shares of Albemarle in the 3rd quarter valued at approximately $3,344,000. Fox Run Management L.L.C. acquired a new stake in shares of Albemarle in the 3rd quarter valued at approximately $758,000. Finally, MAI Capital Management boosted its stake in Albemarle by 12.3% during the 3rd quarter. MAI Capital Management now owns 4,315 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 473 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Trading Down 3.5%

Shares of NYSE:ALB opened at $178.54 on Friday. The firm has a market cap of $21.04 billion, a price-to-earnings ratio of -31.05, a PEG ratio of 1.66 and a beta of 1.44. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $206.00. The company’s fifty day simple moving average is $166.65 and its 200 day simple moving average is $122.70. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted ($1.09) EPS. Albemarle’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts forecast that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.9%. Albemarle’s dividend payout ratio (DPR) is presently -28.17%.

Analysts Set New Price Targets

Several equities research analysts have commented on ALB shares. Rothschild & Co Redburn upped their target price on shares of Albemarle from $158.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Scotiabank raised shares of Albemarle from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $85.00 to $200.00 in a report on Monday, January 12th. JPMorgan Chase & Co. lowered their price objective on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $205.00 in a research note on Wednesday, January 21st. Finally, Mizuho lifted their target price on Albemarle from $156.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.04.

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.