Koss Olinger Consulting LLC Has $1.69 Million Position in Albemarle Co. (NYSE:ALB)

Koss Olinger Consulting LLC lowered its holdings in Albemarle Co. (NYSE:ALB) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,643 shares of the specialty chemicals company’s stock after selling 329 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Albemarle were worth $1,691,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALB. Atria Investments Inc boosted its stake in Albemarle by 25.2% in the third quarter. Atria Investments Inc now owns 5,216 shares of the specialty chemicals company’s stock worth $494,000 after purchasing an additional 1,051 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Albemarle during the third quarter valued at $243,000. OneDigital Investment Advisors LLC lifted its stake in shares of Albemarle by 47.6% during the third quarter. OneDigital Investment Advisors LLC now owns 3,847 shares of the specialty chemicals company’s stock valued at $364,000 after acquiring an additional 1,241 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Albemarle by 9.2% during the third quarter. CIBC Asset Management Inc now owns 18,130 shares of the specialty chemicals company’s stock valued at $1,717,000 after acquiring an additional 1,531 shares during the period. Finally, Natixis Advisors LLC lifted its stake in shares of Albemarle by 44.2% during the third quarter. Natixis Advisors LLC now owns 57,833 shares of the specialty chemicals company’s stock valued at $5,477,000 after acquiring an additional 17,736 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada cut their price target on Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Scotiabank cut their price target on Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Truist Financial cut their price target on Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Morgan Stanley dropped their price objective on Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Finally, Mizuho dropped their price objective on Albemarle from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus price target of $104.30.

Albemarle Trading Down 1.0 %

NYSE ALB opened at $78.51 on Wednesday. The firm has a market cap of $9.23 billion, a P/E ratio of -7.01 and a beta of 1.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. The stock’s 50-day moving average is $82.24 and its 200-day moving average is $91.25. Albemarle Co. has a one year low of $67.23 and a one year high of $137.50.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. Sell-side analysts anticipate that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, March 14th. Albemarle’s dividend payout ratio is presently -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.