Aviso Financial Inc. Boosts Holdings in Albemarle Corporation $ALB

Aviso Financial Inc. boosted its position in shares of Albemarle Corporation (NYSE:ALB) by 363.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,258 shares of the specialty chemicals company’s stock after purchasing an additional 18,240 shares during the quarter. Aviso Financial Inc.’s holdings in Albemarle were worth $1,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALB. Hantz Financial Services Inc. lifted its stake in shares of Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 402 shares in the last quarter. Cromwell Holdings LLC raised its holdings in Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in Albemarle in the 3rd quarter worth approximately $40,000. EverSource Wealth Advisors LLC lifted its position in Albemarle by 536.7% in the 2nd 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 in the last quarter. Finally, Assetmark Inc. boosted its stake in 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 purchasing an additional 491 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho upped their price target on Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley boosted their target price on Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Argus raised their price target on shares of Albemarle from $140.00 to $185.00 in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th. Finally, HSBC upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Monday, January 19th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and a consensus target price of $170.04.

Albemarle Price Performance

Shares of NYSE:ALB opened at $178.54 on Friday. 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 stock has a market capitalization of $21.04 billion, a PE ratio of -31.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The firm’s 50 day moving average price is $166.65 and its 200-day moving average price is $122.70. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $206.00.

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

Albemarle Dividend Announcement

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

Albemarle Company 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.