Robeco Institutional Asset Management B.V. Invests $1.72 Million in Albemarle Corporation $ALB

Robeco Institutional Asset Management B.V. bought a new stake in Albemarle Corporation (NYSE:ALB) during the third quarter, HoldingsChannel.com reports. The fund bought 21,264 shares of the specialty chemicals company’s stock, valued at approximately $1,724,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its holdings in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 508 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 483 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Albemarle by 248.0% during the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 491 shares during the period. Finally, ST Germain D J Co. Inc. acquired a new position in Albemarle during the 2nd quarter worth approximately $47,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALB has been the topic of a number of analyst reports. Rothschild Redb upgraded shares of Albemarle to a “strong-buy” rating in a research note on Friday, October 24th. Cowen reaffirmed a “hold” rating on shares of Albemarle in a research note on Thursday, October 9th. Argus upped their price objective on shares of Albemarle from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Citigroup raised their target price on Albemarle from $100.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Finally, Mizuho boosted their price target on Albemarle from $110.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.28.

Albemarle Trading Up 2.0%

NYSE:ALB opened at $161.41 on Monday. The firm has a 50 day moving average of $128.81 and a 200 day moving average of $97.82. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $164.98. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of -101.51, a PEG ratio of 6.78 and a beta of 1.41.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.73. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. Albemarle’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm posted ($1.55) EPS. As a group, sell-side analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Albemarle’s dividend payout ratio (DPR) is presently -101.89%.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.