Quadrature Capital Ltd Has $362,000 Stake in Albemarle Corporation $ALB

Quadrature Capital Ltd reduced its position in Albemarle Corporation (NYSE:ALB) by 44.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,778 shares of the specialty chemicals company’s stock after selling 4,701 shares during the quarter. Quadrature Capital Ltd’s holdings in Albemarle were worth $362,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ALB. Hantz Financial Services Inc. boosted its position in Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 402 shares during the last quarter. CVA Family Office LLC raised its position in shares of Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 508 shares in the last quarter. National Pension Service lifted its stake in shares of Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 193 shares during the period. Costello Asset Management INC acquired a new position in shares of Albemarle in the 1st quarter valued at about $36,000. Finally, Assetmark Inc. boosted its position in shares of Albemarle by 248.0% during the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 491 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALB shares. BMO Capital Markets lifted their target price on Albemarle from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Robert W. Baird set a $113.00 price objective on shares of Albemarle and gave the stock a “neutral” rating in a research report on Tuesday. Dbs Bank lifted their price objective on shares of Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Zacks Research downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada increased their target price on shares of Albemarle from $117.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.63.

Albemarle Stock Down 0.0%

Albemarle stock opened at $128.29 on Wednesday. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of -80.69 and a beta of 1.43. The firm’s fifty day moving average price is $101.67 and its two-hundred day moving average price is $81.69. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $132.90. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted ($1.55) EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, December 12th. Albemarle’s dividend payout ratio (DPR) is currently -101.89%.

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.