WINTON GROUP Ltd Takes $6.31 Million Position in Albemarle Corporation $ALB

WINTON GROUP Ltd bought a new stake in Albemarle Corporation (NYSE:ALB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 77,797 shares of the specialty chemicals company’s stock, valued at approximately $6,308,000. WINTON GROUP Ltd owned 0.07% of Albemarle as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Albemarle by 25.5% in the 1st quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Albemarle by 26.2% during the first quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after purchasing an additional 996 shares during the period. United Services Automobile Association bought a new stake in shares of Albemarle during the first quarter valued at approximately $208,000. Empowered Funds LLC acquired a new position in shares of Albemarle in the first quarter valued at $411,000. Finally, Assetmark Inc. raised 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 purchasing an additional 491 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on ALB. Morgan Stanley lifted their price target on shares of Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Citigroup raised their price objective on shares of Albemarle from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. HSBC upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Monday, January 19th. UBS Group upped their target price on shares of Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Evercore increased their price target on shares of Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. Three investment 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 assigned a Sell rating to the stock. According to MarketBeat, Albemarle presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.24.

Albemarle Stock Up 4.5%

Shares of NYSE:ALB opened at $169.59 on Tuesday. The company’s fifty day moving average is $169.14 and its 200-day moving average is $126.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $206.00. The company has a market capitalization of $19.99 billion, a PE ratio of -29.49, a P/E/G ratio of 1.29 and a beta of 1.43.

Albemarle (NYSE:ALB) last announced 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). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned ($1.09) EPS. Equities research analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.405 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Albemarle’s payout ratio is -28.17%.

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.