Naples Global Advisors LLC reduced its stake in shares of Albemarle Co. (NYSE:ALB) by 0.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,174 shares of the specialty chemicals company’s stock after selling 98 shares during the period. Naples Global Advisors LLC’s holdings in Albemarle were worth $4,555,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Albemarle by 1.8% during the 4th quarter. Bessemer Group Inc. now owns 3,744 shares of the specialty chemicals company’s stock valued at $552,000 after acquiring an additional 68 shares during the period. Cetera Advisor Networks LLC lifted its stake in Albemarle by 1.0% in the 4th quarter. Cetera Advisor Networks LLC now owns 8,566 shares of the specialty chemicals company’s stock valued at $1,264,000 after buying an additional 85 shares in the last quarter. Silver Lake Advisory LLC lifted its stake in Albemarle by 0.5% in the 4th quarter. Silver Lake Advisory LLC now owns 21,731 shares of the specialty chemicals company’s stock valued at $3,206,000 after buying an additional 101 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Albemarle by 1.1% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 9,685 shares of the specialty chemicals company’s stock valued at $1,429,000 after buying an additional 110 shares in the last quarter. Finally, Vectors Research Management LLC lifted its stake in Albemarle by 0.8% in the 4th quarter. Vectors Research Management LLC now owns 15,478 shares of the specialty chemicals company’s stock valued at $2,283,000 after buying an additional 124 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Loop Capital raised shares of Albemarle from a “hold” rating to a “buy” rating and raised their target price for the stock from $174.00 to $186.00 in a research note on Monday, March 8th. Deutsche Bank Aktiengesellschaft raised shares of Albemarle from a “hold” rating to a “buy” rating and lifted their price target for the company from $175.00 to $190.00 in a research report on Monday, February 15th. Zacks Investment Research downgraded shares of Albemarle from a “hold” rating to a “sell” rating and set a $169.00 target price for the company. in a report on Friday, March 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Albemarle from $174.00 to $191.00 in a report on Monday, May 10th. Finally, Cowen assumed coverage on shares of Albemarle in a research note on Monday, March 15th. They issued an “outperform” rating and a $180.00 price target for the company. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Albemarle presently has a consensus rating of “Hold” and a consensus price target of $143.36.
In other news, insider Raphael Goszcz Crawford sold 6,255 shares of the firm’s stock in a transaction on Tuesday, May 18th. The shares were sold at an average price of $159.73, for a total value of $999,111.15. Following the transaction, the insider now owns 23,574 shares of the company’s stock, valued at approximately $3,765,475.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Luther C. Iv Kissam sold 15,478 shares of the firm’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $152.26, for a total transaction of $2,356,680.28. In the last three months, insiders sold 24,732 shares of company stock worth $3,817,308. Insiders own 0.63% of the company’s stock.
Shares of ALB traded up $1.69 on Thursday, hitting $163.89. 13,998 shares of the stock traded hands, compared to its average volume of 949,083. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $19.13 billion, a P/E ratio of 48.55, a P/E/G ratio of 2.23 and a beta of 1.55. The stock’s 50 day moving average is $158.19 and its two-hundred day moving average is $153.00. Albemarle Co. has a 1 year low of $72.39 and a 1 year high of $188.35.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Tuesday, May 4th. The specialty chemicals company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.30. The company had revenue of $829.29 million for the quarter, compared to the consensus estimate of $754.03 million. Albemarle had a net margin of 11.31% and a return on equity of 9.66%. Research analysts forecast that Albemarle Co. will post 3.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, June 10th. Albemarle’s dividend payout ratio is presently 37.86%.
About Albemarle
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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