MetLife Investment Advisors LLC cut its stake in shares of Albemarle Co. (NYSE:ALB) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,295 shares of the specialty chemicals company’s stock after selling 893 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Albemarle were worth $3,088,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ALB. Texas Yale Capital Corp. grew its holdings in Albemarle by 12.9% in the 1st quarter. Texas Yale Capital Corp. now owns 4,950 shares of the specialty chemicals company’s stock worth $459,000 after buying an additional 565 shares in the last quarter. ETRADE Capital Management LLC grew its holdings in Albemarle by 26.3% in the 1st quarter. ETRADE Capital Management LLC now owns 2,743 shares of the specialty chemicals company’s stock worth $254,000 after buying an additional 571 shares in the last quarter. Dupont Capital Management Corp grew its holdings in Albemarle by 81.6% in the 1st quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after buying an additional 610 shares in the last quarter. Norinchukin Bank The grew its holdings in Albemarle by 7.5% in the 4th quarter. Norinchukin Bank The now owns 8,835 shares of the specialty chemicals company’s stock worth $1,130,000 after buying an additional 613 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in Albemarle by 13.4% in the 4th quarter. Belpointe Asset Management LLC now owns 5,415 shares of the specialty chemicals company’s stock worth $693,000 after buying an additional 640 shares in the last quarter. 86.15% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on ALB shares. Argus decreased their price objective on Albemarle from $148.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, March 27th. Citigroup decreased their price objective on Albemarle from $112.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 10th. Berenberg Bank started coverage on Albemarle in a report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research lowered Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $130.00 price objective (down from $160.00) on shares of Albemarle in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $124.16.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, May 9th. The specialty chemicals company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.10. Albemarle had a return on equity of 13.80% and a net margin of 4.27%. The company had revenue of $821.60 million during the quarter, compared to the consensus estimate of $798.20 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. equities research analysts expect that Albemarle Co. will post 5.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.46%. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.