Aigen Investment Management LP Purchases 1,849 Shares of Albemarle Co. (NYSE:ALB)

Aigen Investment Management LP grew its position in shares of Albemarle Co. (NYSE:ALB) by 51.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,455 shares of the specialty chemicals company’s stock after purchasing an additional 1,849 shares during the period. Aigen Investment Management LP’s holdings in Albemarle were worth $470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP lifted its position in Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 252 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 235 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 279 shares in the last quarter. First Community Trust NA grew its holdings in shares of Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new position in Albemarle in the 4th quarter worth $35,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Trading Down 1.2 %

NYSE ALB opened at $75.57 on Friday. The firm has a market capitalization of $8.88 billion, a PE ratio of -6.75 and a beta of 1.70. The stock’s 50 day moving average is $84.18 and its 200 day moving average is $91.91. Albemarle Co. has a twelve month low of $67.23 and a twelve month 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.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) 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%. Research analysts forecast that Albemarle Co. will post -0.04 earnings per share for the current fiscal 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 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 dividend yield of 2.14%. Albemarle’s payout ratio is -14.46%.

Wall Street Analyst Weigh In

ALB has been the subject of several analyst reports. Oppenheimer cut their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Robert W. Baird decreased their price target on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Clarkson Capital began coverage on Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. Finally, Truist Financial cut their target price on shares of Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $108.77.

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.