5,012 Shares in Albemarle Co. (NYSE:ALB) Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC bought a new stake in Albemarle Co. (NYSE:ALB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,012 shares of the specialty chemicals company's stock, valued at approximately $452,000.

Several other institutional investors have also recently made changes to their positions in the company. Mariner LLC boosted its position in shares of Albemarle by 2.0% during the fourth quarter. Mariner LLC now owns 716,009 shares of the specialty chemicals company's stock valued at $61,635,000 after buying an additional 14,044 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Albemarle during the 4th quarter worth approximately $452,000. Rockefeller Capital Management L.P. boosted its holdings in Albemarle by 6.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 30,801 shares of the specialty chemicals company's stock valued at $2,656,000 after acquiring an additional 1,892 shares during the period. Sterling Capital Management LLC grew its position in Albemarle by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 6,953 shares of the specialty chemicals company's stock valued at $599,000 after acquiring an additional 2,480 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Albemarle by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 51,580 shares of the specialty chemicals company's stock worth $4,440,000 after purchasing an additional 320 shares during the period. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

ALB has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of Albemarle from $90.00 to $85.00 and set an "underweight" rating on the stock in a report on Thursday, February 20th. KeyCorp dropped their target price on shares of Albemarle from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada decreased their price target on shares of Albemarle from $133.00 to $114.00 and set an "overweight" rating for the company in a research note on Wednesday, February 12th. Clarkson Capital began coverage on Albemarle in a research note on Tuesday, January 14th. They issued a "buy" rating and a $112.00 price objective on the stock. Finally, BMO Capital Markets decreased their target price on Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Albemarle presently has an average rating of "Hold" and an average target price of $96.05.

Albemarle Stock Up 1.4 %

NYSE:ALB traded up $0.72 during mid-day trading on Tuesday, hitting $53.74. 297,413 shares of the company's stock traded hands, compared to its average volume of 2,710,556. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The company has a market capitalization of $6.32 billion, a P/E ratio of -4.81 and a beta of 1.59. The company has a fifty day moving average of $70.59 and a 200 day moving average of $86.76. Albemarle Co. has a twelve month low of $49.43 and a twelve month high of $137.50.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. On average, analysts forecast that Albemarle Co. will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.405 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a yield of 3.01%. Albemarle's dividend payout ratio (DPR) is -14.46%.

Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.