TAP Consulting LLC Has $4.33 Million Holdings in Albemarle Co. (NYSE:ALB)

TAP Consulting LLC trimmed its position in Albemarle Co. (NYSE:ALB) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,340 shares of the specialty chemicals company’s stock after selling 5,248 shares during the quarter. TAP Consulting LLC’s holdings in Albemarle were worth $4,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Albemarle by 38.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after buying an additional 282,194 shares in the last quarter. Pacer Advisors Inc. raised its position in Albemarle by 71.5% in the fourth quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company’s stock worth $1,287,000 after purchasing an additional 6,234 shares in the last quarter. Bristlecone Advisors LLC lifted its stake in Albemarle by 20.5% during the fourth quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company’s stock worth $2,481,000 after purchasing an additional 4,899 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Albemarle by 28.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company’s stock valued at $40,067,000 after purchasing an additional 93,718 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock valued at $62,333,000 after purchasing an additional 264,756 shares during the period. 92.87% of the stock is owned by institutional investors.

Albemarle Trading Up 1.5 %

Shares of NYSE ALB opened at $79.70 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. Albemarle Co. has a twelve month low of $67.23 and a twelve month high of $137.50. The company’s fifty day moving average is $82.09 and its 200-day moving average is $91.17. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of -7.12 and a beta of 1.70.

Albemarle (NYSE:ALB) last posted 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 net margin of 21.93% and a negative return on equity of 1.72%. Equities research analysts predict that Albemarle Co. will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Albemarle’s payout ratio is currently -14.46%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALB. Piper Sandler cut their price target on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. KeyCorp cut their price target on Albemarle from $127.00 to $122.00 and set an “overweight” rating for the company in a report on Friday, February 14th. 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 reduced their target price on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Finally, UBS Group lowered their price target on shares of Albemarle from $99.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Albemarle presently has an average rating of “Hold” and a consensus price target of $104.30.

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.