Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Albemarle Co. (NYSE:ALB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 47.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 106,209 shares of the specialty chemicals company’s stock after buying an additional 34,051 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Albemarle were worth $9,142,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. TD Private Client Wealth LLC increased its position in shares of Albemarle by 50.4% during the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 132 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Albemarle by 48.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 136 shares during the period. First Community Trust NA increased its position in shares of Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 142 shares during the period. Metis Global Partners LLC increased its position in shares of Albemarle by 3.9% during the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock worth $336,000 after acquiring an additional 148 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Albemarle by 5.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,982 shares of the specialty chemicals company’s stock worth $257,000 after acquiring an additional 158 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Stock Down 0.6 %

Shares of NYSE:ALB opened at $72.38 on Friday. Albemarle Co. has a 1-year low of $67.23 and a 1-year high of $137.50. The stock has a market cap of $8.51 billion, a P/E ratio of -6.46 and a beta of 1.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. The firm has a fifty day moving average price of $83.20 and a 200 day moving average price of $91.61.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate 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 predict that Albemarle Co. will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, March 14th. Albemarle’s dividend payout ratio (DPR) is -14.46%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALB shares. Clarkson Capital started coverage on shares of Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective on the stock. Scotiabank cut their price objective on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Morgan Stanley cut their price objective on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. Finally, Citigroup cut their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.05.

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.