Mutual of America Capital Management LLC Has $2.42 Million Position in Albemarle Co. (NYSE:ALB)

Mutual of America Capital Management LLC lowered its position in shares of Albemarle Co. (NYSE:ALB) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,775 shares of the specialty chemicals company’s stock after selling 835 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Albemarle were worth $2,424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ALB. Moneta Group Investment Advisors LLC grew its holdings in Albemarle by 124,405.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 104,510,053 shares of the specialty chemicals company’s stock valued at $22,664,050,000 after purchasing an additional 104,426,113 shares during the period. Barclays PLC lifted its stake in Albemarle by 142.3% in the third quarter. Barclays PLC now owns 1,043,861 shares of the specialty chemicals company’s stock valued at $177,499,000 after buying an additional 612,963 shares in the last quarter. Morgan Stanley lifted its stake in Albemarle by 45.6% in the fourth quarter. Morgan Stanley now owns 1,378,866 shares of the specialty chemicals company’s stock valued at $299,021,000 after buying an additional 432,155 shares in the last quarter. Norges Bank bought a new position in Albemarle in the fourth quarter valued at approximately $75,802,000. Finally, International Assets Investment Management LLC lifted its stake in Albemarle by 15,046.5% in the fourth quarter. International Assets Investment Management LLC now owns 347,763 shares of the specialty chemicals company’s stock valued at $502,450,000 after buying an additional 345,467 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALB shares. Deutsche Bank Aktiengesellschaft lowered shares of Albemarle from a “buy” rating to a “hold” rating and cut their price target for the company from $155.00 to $135.00 in a research note on Thursday, January 11th. Mizuho cut their price target on shares of Albemarle from $115.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. KeyCorp cut their price target on shares of Albemarle from $178.00 to $159.00 and set an “overweight” rating on the stock in a research note on Thursday, March 7th. Royal Bank of Canada cut their price objective on shares of Albemarle from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, Wolfe Research assumed coverage on shares of Albemarle in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Albemarle has an average rating of “Hold” and an average target price of $175.05.

Albemarle Stock Performance

NYSE ALB opened at $112.15 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average price is $123.05 and its two-hundred day moving average price is $129.47. Albemarle Co. has a 1 year low of $106.69 and a 1 year high of $247.44. The firm has a market capitalization of $13.18 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.86. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm posted $8.62 earnings per share. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, research analysts anticipate that Albemarle Co. will post 3.09 EPS for the current year.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 1.43%. Albemarle’s dividend payout ratio is currently 11.99%.

Albemarle Company 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.