Sequoia Financial Advisors LLC Makes New Investment in Albemarle Co. (NYSE:ALB)

Sequoia Financial Advisors LLC acquired a new stake in Albemarle Co. (NYSE:ALB) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,511 shares of the specialty chemicals company’s stock, valued at approximately $363,000.

Several other large investors also recently modified their holdings of the stock. RFG Advisory LLC lifted its position in Albemarle by 58.6% during the fourth quarter. RFG Advisory LLC now owns 4,059 shares of the specialty chemicals company’s stock worth $586,000 after purchasing an additional 1,499 shares during the period. Fortem Financial Group LLC raised its position in shares of Albemarle by 48.2% in the 4th quarter. Fortem Financial Group LLC now owns 8,361 shares of the specialty chemicals company’s stock valued at $1,208,000 after buying an additional 2,721 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Albemarle by 4.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,407 shares of the specialty chemicals company’s stock worth $348,000 after acquiring an additional 111 shares during the period. Bristlecone Advisors LLC acquired a new stake in shares of Albemarle during the 4th quarter worth approximately $1,129,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Albemarle by 2.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 52,819 shares of the specialty chemicals company’s stock worth $7,631,000 after acquiring an additional 1,323 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Trading Down 2.3 %

Shares of ALB stock opened at $111.77 on Friday. The stock has a 50-day moving average of $123.12 and a 200-day moving average of $129.82. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 2.31 and a beta of 1.62. Albemarle Co. has a 1-year low of $106.69 and a 1-year high of $247.44.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.86. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.18 billion. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $8.62 EPS. On average, equities research analysts forecast that Albemarle Co. will post 3.09 earnings per share for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.43%. Albemarle’s dividend payout ratio (DPR) is currently 11.99%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ALB shares. Royal Bank of Canada cut their target price on Albemarle from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Vertical Research downgraded Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a research report on Friday, March 8th. TD Cowen lowered Albemarle from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $220.00 to $130.00 in a research note on Monday, January 29th. Wells Fargo & Company boosted their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Mizuho reduced their price target on shares of Albemarle from $115.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $175.05.

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.