Virtu Financial LLC Takes Position in Albemarle Co. (NYSE:ALB)

Virtu Financial LLC bought a new position in Albemarle Co. (NYSE:ALB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,837 shares of the specialty chemicals company’s stock, valued at approximately $3,515,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALB. Quarry LP grew its stake in Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. Assetmark Inc. grew its position in Albemarle by 340.6% during the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares during the period. Trust Co. of Vermont grew its position in shares of Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 279 shares during the period. First Community Trust NA boosted its holdings in Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 142 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new position in Albemarle in the 4th quarter worth approximately $35,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Performance

Shares of ALB opened at $77.57 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of -6.93 and a beta of 1.70. The company’s 50 day simple moving average is $81.70 and its 200 day simple moving average is $90.98. Albemarle Co. has a 1 year low of $67.23 and a 1 year high of $137.50.

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

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Albemarle’s dividend payout ratio is presently -14.46%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Robert W. Baird reduced their price target on shares of Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Citigroup dropped their price target on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Scotiabank reduced their price target on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Clarkson Capital began coverage on shares of Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price for the company. Finally, Morgan Stanley cut their price target on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.30.

About Albemarle

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.