Decade Renewable Partners LP Invests $1.23 Million in Albemarle Co. (NYSE:ALB)

Decade Renewable Partners LP bought a new stake in Albemarle Co. (NYSE:ALB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 14,300 shares of the specialty chemicals company's stock, valued at approximately $1,231,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Albemarle by 340.6% during the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 235 shares during the period. Trust Co. of Vermont increased its stake in shares of Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 279 shares in the last quarter. First Community Trust NA raised its position in shares of Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 142 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Albemarle in the 4th quarter valued at about $34,000. Finally, Ameliora Wealth Management Ltd. acquired a new stake in Albemarle in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALB. Clarkson Capital assumed coverage on Albemarle in a research report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 target price on the stock. Mizuho decreased their price objective on Albemarle from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Truist Financial dropped their target price on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating for the company in a report on Monday, April 14th. KeyCorp decreased their price target 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. Finally, Royal Bank of Canada cut their price objective on shares of Albemarle from $133.00 to $114.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $96.05.

Albemarle Price Performance

ALB stock opened at $57.73 on Monday. The business's fifty day moving average price is $68.61 and its 200 day moving average price is $85.48. Albemarle Co. has a 12-month low of $49.43 and a 12-month high of $137.50. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.79 billion, a PE ratio of -5.15 and a beta of 1.59.

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

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, March 14th. Albemarle's payout ratio is currently -14.46%.

Albemarle Company 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.

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