Nikko Asset Management Americas Inc. Has $1.29 Million Stock Position in Albemarle Co. (NYSE:ALB)

Nikko Asset Management Americas Inc. lessened its stake in shares of Albemarle Co. (NYSE:ALB) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,956 shares of the specialty chemicals company’s stock after selling 2,499 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Albemarle were worth $1,287,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quarry LP increased its holdings in Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. Assetmark Inc. increased its stake in shares of Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 235 shares during the period. Trust Co. of Vermont raised its holdings in Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. First Community Trust NA boosted its position in Albemarle by 55.0% during 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 during the period. Finally, Ameliora Wealth Management Ltd. bought a new stake in Albemarle during the 4th quarter worth approximately $35,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALB shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. KeyCorp cut their target price on Albemarle from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Piper Sandler reduced their price target on Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets lowered their price objective on Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Finally, Evercore ISI cut Albemarle from an “outperform” rating to an “inline” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.30.

Albemarle Stock Up 5.4 %

Shares of NYSE:ALB opened at $79.29 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. Albemarle Co. has a 52-week low of $67.23 and a 52-week high of $137.50. The business’s 50 day simple moving average is $82.47 and its two-hundred day simple moving average is $91.33. The firm has a market cap of $9.32 billion, a P/E ratio of -7.08 and a beta of 1.70.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (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%. As a group, research analysts forecast that Albemarle Co. will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.04%. Albemarle’s dividend payout ratio is presently -14.46%.

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.