Mutual of America Capital Management LLC Sells 393 Shares of Albemarle Co. (NYSE:ALB)

Mutual of America Capital Management LLC decreased its holdings in shares of Albemarle Co. (NYSE:ALB) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,079 shares of the specialty chemicals company’s stock after selling 393 shares during the period. Mutual of America Capital Management LLC’s holdings in Albemarle were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quarry LP lifted its position in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Albemarle by 606.5% in the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 279 shares during the period. First Community Trust NA raised its stake in shares of Albemarle by 55.0% in the fourth 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 period. Ameliora Wealth Management Ltd. purchased a new position in shares of Albemarle during the 4th quarter valued at about $35,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Albemarle by 48.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 136 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Price Performance

Albemarle stock opened at $75.57 on Monday. The firm’s fifty day moving average is $83.92 and its 200 day moving average is $91.94. Albemarle Co. has a 52-week low of $67.23 and a 52-week high of $137.50. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The company has a market cap of $8.88 billion, a price-to-earnings ratio of -6.75 and a beta of 1.70.

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

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, March 14th. This represents a $1.62 annualized dividend and a yield of 2.14%. Albemarle’s payout ratio is presently -14.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup decreased their target price on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Robert W. Baird dropped their target price on shares of Albemarle from $103.00 to $92.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Scotiabank decreased their price target on Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Finally, UBS Group dropped their price objective on Albemarle from $99.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $107.05.

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.