Renaissance Technologies LLC Has $5.23 Million Stock Position in Albemarle Co. (NYSE:ALB)

Renaissance Technologies LLC lifted its stake in shares of Albemarle Co. (NYSE:ALB - Free Report) by 2,151.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,800 shares of the specialty chemicals company's stock after buying an additional 58,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.05% of Albemarle worth $5,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALB. Assetmark Inc. grew its holdings in Albemarle by 340.6% during the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 235 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 279 shares during the last quarter. First Community Trust NA grew its position in shares of Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company's stock worth $34,000 after acquiring an additional 142 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Albemarle in the 4th quarter valued at approximately $34,000. Finally, Ameliora Wealth Management Ltd. acquired a new stake in shares of Albemarle during the 4th quarter valued at approximately $35,000. Institutional investors own 92.87% of the company's stock.

Albemarle Price Performance

Shares of ALB traded up $2.62 during midday trading on Thursday, reaching $58.26. The stock had a trading volume of 1,685,870 shares, compared to its average volume of 2,930,900. The firm's 50 day moving average price is $69.59 and its 200-day moving average price is $86.32. Albemarle Co. has a 52 week low of $49.43 and a 52 week high of $137.50. The company has a market capitalization of $6.85 billion, a P/E ratio of -5.20 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share 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 earnings per share for the current fiscal 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 given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.78%. Albemarle's dividend payout ratio (DPR) is presently -14.46%.

Analyst Ratings Changes

Several research firms have weighed in on ALB. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. Robert W. Baird dropped their price objective on shares of Albemarle from $77.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Citigroup decreased their target price on Albemarle from $85.00 to $64.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Mizuho reduced their price objective on Albemarle from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Clarkson Capital began 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. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $96.05.

About Albemarle

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.