Sollinda Capital Management LLC Purchases New Holdings in Albemarle Co. (NYSE:ALB)

Sollinda Capital Management LLC bought a new stake in Albemarle Co. (NYSE:ALB - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,063 shares of the specialty chemicals company's stock, valued at approximately $1,711,000. Albemarle comprises 0.5% of Sollinda Capital Management LLC's holdings, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC grew its holdings in Albemarle by 176.6% during the first quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company's stock worth $209,333,000 after acquiring an additional 3,662,117 shares during the period. Pathway Financial Advisers LLC grew its holdings in Albemarle by 9,108.7% during the third quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company's stock worth $54,440,000 after acquiring an additional 568,563 shares during the period. Capital World Investors acquired a new position in Albemarle during the first quarter worth about $49,007,000. PGGM Investments grew its holdings in Albemarle by 261.6% during the first quarter. PGGM Investments now owns 413,492 shares of the specialty chemicals company's stock worth $54,473,000 after acquiring an additional 299,148 shares during the period. Finally, HB Wealth Management LLC grew its holdings in Albemarle by 115.7% during the second quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company's stock worth $51,791,000 after acquiring an additional 290,862 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALB shares. Hsbc Global Res raised Albemarle to a "hold" rating in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their price target on Albemarle from $128.00 to $111.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Albemarle from $105.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, August 16th. JPMorgan Chase & Co. dropped their price target on Albemarle from $115.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, August 19th. Finally, Citigroup dropped their price target on Albemarle from $137.00 to $100.00 and set a "neutral" rating on the stock in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $117.30.

Albemarle Price Performance

ALB traded up $3.51 during midday trading on Friday, reaching $98.24. 2,431,111 shares of the company's stock were exchanged, compared to its average volume of 2,977,436. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of -20.77 and a beta of 1.55. The company has a quick ratio of 1.75, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The business has a 50-day simple moving average of $92.35 and a two-hundred day simple moving average of $100.94.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.49). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The firm's revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.33 EPS. As a group, research analysts predict that Albemarle Co. will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle's payout ratio is -34.25%.

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.