Symmetry Investments LP Invests $596,000 in Albemarle Co. (NYSE:ALB)

Symmetry Investments LP bought a new position in Albemarle Co. (NYSE:ALB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,928 shares of the specialty chemicals company's stock, valued at approximately $596,000.

Several other hedge funds also recently bought and sold shares of ALB. Assetmark Inc. boosted its stake in shares of Albemarle by 340.6% in 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 lifted its holdings in Albemarle by 606.5% in the 4th 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 boosted its stake in 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 purchasing an additional 142 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in Albemarle during the 4th quarter valued at approximately $34,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $35,000. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

ALB stock opened at $54.76 on Wednesday. The business's fifty day simple moving average is $70.11 and its two-hundred day simple moving average is $86.54. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of -4.89 and a beta of 1.59. 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 released its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (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%. Analysts predict that Albemarle Co. will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Friday, March 14th. Albemarle's dividend payout ratio (DPR) is presently -14.46%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Citigroup decreased their target price on Albemarle from $85.00 to $64.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. UBS Group cut their price target on Albemarle from $86.00 to $64.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Robert W. Baird decreased their price objective on Albemarle from $77.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $96.05.

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.

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