27,765 Shares in Albemarle Co. (NYSE:ALB) Purchased by Kennondale Capital Management LLC

Kennondale Capital Management LLC acquired a new stake in Albemarle Co. (NYSE:ALB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,765 shares of the specialty chemicals company’s stock, valued at approximately $2,390,000. Albemarle accounts for approximately 1.9% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 9th largest holding.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its position in shares of Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 132 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Albemarle by 48.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 136 shares during the period. First Community Trust NA raised its position in Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares during the period. Metis Global Partners LLC grew its stake in shares of Albemarle by 3.9% in the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock valued at $336,000 after buying an additional 148 shares in the last quarter. Finally, SlateStone Wealth LLC grew its stake in shares of Albemarle by 3.3% in the fourth quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company’s stock valued at $401,000 after buying an additional 150 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALB has been the subject of several analyst reports. Piper Sandler lowered their target price on Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada reduced their price objective on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Citigroup reduced their price objective on Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Robert W. Baird dropped their target price on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Evercore ISI cut Albemarle from an “outperform” rating to an “inline” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Albemarle currently has an average rating of “Hold” and a consensus target price of $104.30.

Albemarle Stock Up 5.4 %

Shares of NYSE ALB opened at $79.29 on Tuesday. Albemarle Co. has a 12-month low of $67.23 and a 12-month high of $137.50. The company has a market cap of $9.32 billion, a P/E ratio of -7.08 and a beta of 1.70. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $82.47 and a 200 day moving average price of $91.33.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. Research analysts anticipate that Albemarle Co. will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a yield of 2.04%. Albemarle’s dividend payout ratio (DPR) is -14.46%.

Albemarle Company 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.