Albemarle Co. (NYSE:ALB) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its stake in shares of Albemarle Co. (NYSE:ALB) by 27.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 33,345 shares of the specialty chemicals company’s stock after selling 12,595 shares during the period. Guggenheim Capital LLC’s holdings in Albemarle were worth $2,870,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ALB. Assetmark Inc. raised its holdings 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 purchasing an additional 235 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of 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 boosted 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 buying an additional 142 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Albemarle in the 4th quarter valued at about $34,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Albemarle during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Up 0.6 %

ALB opened at $52.88 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The company has a market cap of $6.22 billion, a PE ratio of -4.72 and a beta of 1.59. The firm has a 50 day moving average price of $71.06 and a 200 day moving average price of $87.15. Albemarle Co. has a 1 year low of $49.43 and a 1 year high of $137.50.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) 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%. Sell-side analysts expect that Albemarle Co. will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.405 per share. The ex-dividend date was Friday, March 14th. This represents a $1.62 annualized dividend and a yield of 3.06%. Albemarle’s dividend payout ratio is presently -14.46%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALB shares. Scotiabank lowered their price target on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Evercore ISI downgraded Albemarle from an “outperform” rating to an “inline” rating in a research report on Wednesday, February 5th. BMO Capital Markets reduced their price objective on Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Morgan Stanley dropped their price objective on Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. Finally, Piper Sandler reduced their target price on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.