Banco Santander S.A. Lowers Stock Position in Albemarle Corporation $ALB

Banco Santander S.A. cut its stake in shares of Albemarle Corporation (NYSE:ALB) by 78.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,558 shares of the specialty chemicals company’s stock after selling 34,032 shares during the quarter. Banco Santander S.A.’s holdings in Albemarle were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ALB. Hantz Financial Services Inc. raised its position in shares of Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 402 shares in the last quarter. Cromwell Holdings LLC grew its position in Albemarle by 36.8% in the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 483 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new stake in Albemarle during the third quarter valued at about $40,000. Finally, Assetmark Inc. lifted its stake in Albemarle by 248.0% during the second quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Down 3.5%

Shares of NYSE ALB opened at $178.54 on Friday. The firm’s fifty day moving average is $166.65 and its 200 day moving average is $122.70. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $206.00. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The company has a market cap of $21.04 billion, a price-to-earnings ratio of -31.05, a PEG ratio of 1.66 and a beta of 1.44.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business earned ($1.09) EPS. Albemarle’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, March 13th. Albemarle’s payout ratio is currently -28.17%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. HSBC raised Albemarle from a “hold” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Monday, January 19th. UBS Group increased their price target on shares of Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Albemarle from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Albemarle in a research note on Monday, December 29th. Finally, Wells Fargo & Company set a $165.00 target price on shares of Albemarle in a report on Monday, February 16th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.04.

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.