Albemarle Co. (NYSE:ALB) Shares Bought by Himension Capital Singapore PTE. LTD.

Himension Capital Singapore PTE. LTD. raised its stake in shares of Albemarle Co. (NYSE:ALB) by 50.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,834 shares of the specialty chemicals company’s stock after purchasing an additional 74,322 shares during the quarter. Albemarle comprises 1.3% of Himension Capital Singapore PTE. LTD.’s holdings, making the stock its 12th biggest position. Himension Capital Singapore PTE. LTD. owned approximately 0.19% of Albemarle worth $19,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP increased its position in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 252 shares during the period. Assetmark Inc. lifted its position in Albemarle by 340.6% during the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 235 shares during the period. Trust Co. of Vermont grew its stake in Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 279 shares during the last quarter. First Community Trust NA lifted its holdings 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 purchasing an additional 142 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Albemarle in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ALB shares. Piper Sandler lowered their target price on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Mizuho cut their price objective on shares of Albemarle from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Scotiabank reduced 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. Royal Bank of Canada lowered their target price on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Finally, Clarkson Capital began coverage on Albemarle in a research report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.30.

Albemarle Stock Performance

NYSE:ALB opened at $58.55 on Friday. The firm’s fifty day simple moving average is $77.46 and its 200 day simple moving average is $90.15. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -5.23 and a beta of 1.59. Albemarle Co. has a twelve month low of $57.53 and a twelve month high of $137.50. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) 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, equities research analysts expect that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently -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.