Realta Investment Advisors trimmed its holdings in shares of Albemarle Co. (NYSE:ALB - Free Report) by 38.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,747 shares of the specialty chemicals company's stock after selling 12,597 shares during the quarter. Albemarle accounts for approximately 0.9% of Realta Investment Advisors' portfolio, making the stock its 24th biggest position. Realta Investment Advisors' holdings in Albemarle were worth $1,967,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Albemarle by 3.7% in the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company's stock valued at $268,000 after purchasing an additional 102 shares during the period. Silver Coast Investments LLC purchased a new stake in shares of Albemarle in the 3rd quarter valued at $290,000. Tandem Capital Management Corp ADV lifted its stake in Albemarle by 7.0% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 8,948 shares of the specialty chemicals company's stock worth $847,000 after acquiring an additional 587 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in Albemarle by 146.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 30,514 shares of the specialty chemicals company's stock valued at $2,900,000 after acquiring an additional 18,136 shares during the period. Finally, First Trust Direct Indexing L.P. acquired a new position in Albemarle in the 3rd quarter valued at about $269,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ALB traded up $3.51 during mid-day trading on Friday, hitting $98.24. The stock had a trading volume of 2,431,111 shares, compared to its average volume of 2,977,436. The company has a 50 day simple moving average of $92.35 and a 200 day simple moving average of $100.94. The company has a quick ratio of 1.75, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. The company has a market cap of $11.55 billion, a price-to-earnings ratio of -20.77 and a beta of 1.54. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $153.54.
Albemarle (NYSE:ALB - Get Free Report) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.49). The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The business's revenue was down 39.7% compared to the same quarter last year. During the same quarter last year, the business posted $7.33 earnings per share. Equities analysts forecast that Albemarle Co. will post -0.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle's payout ratio is currently -34.25%.
ALB has been the subject of several recent research reports. Mizuho lowered their price objective on shares of Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. UBS Group cut their price objective on Albemarle from $124.00 to $109.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. Citigroup decreased their target price on Albemarle from $137.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, July 12th. KeyCorp cut their price target on Albemarle from $151.00 to $132.00 and set an "overweight" rating on the stock in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Albemarle from $105.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $117.30.
Check Out Our Latest Stock Analysis on 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.
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