Albemarle Co. (ALB) Position Lowered by Zacks Investment Management

Zacks Investment Management trimmed its stake in Albemarle Co. (NYSE:ALB) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,472 shares of the specialty chemicals company’s stock after selling 1,184 shares during the period. Zacks Investment Management’s holdings in Albemarle were worth $884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group grew its position in shares of Albemarle by 3,087.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 247 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Albemarle by 143.1% during the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 206 shares during the period. First Quadrant L P CA acquired a new stake in Albemarle during the 4th quarter worth $31,000. Private Capital Group LLC boosted its stake in Albemarle by 332.7% during the 4th quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 326 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in Albemarle during the 4th quarter worth $69,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ALB opened at $82.72 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.69 and a debt-to-equity ratio of 0.37. Albemarle Co. has a 52 week low of $71.89 and a 52 week high of $108.74. The stock has a market capitalization of $8.75 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.88 and a beta of 1.66.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Albemarle had a net margin of 20.55% and a return on equity of 15.82%. The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $894.45 million. During the same period last year, the firm posted $1.34 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts anticipate that Albemarle Co. will post 6.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.3675 per share. This is an increase from Albemarle’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, March 14th. Albemarle’s dividend payout ratio (DPR) is 26.82%.

In other Albemarle news, CFO Scott Tozier sold 3,343 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $74.55, for a total transaction of $249,220.65. Following the completion of the transaction, the chief financial officer now directly owns 46,711 shares in the company, valued at approximately $3,482,305.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karen G. Narwold sold 1,243 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $91.00, for a total transaction of $113,113.00. Following the transaction, the executive vice president now owns 34,757 shares of the company’s stock, valued at $3,162,887. The disclosure for this sale can be found here. Insiders have sold a total of 8,842 shares of company stock valued at $728,599 over the last 90 days. 0.80% of the stock is currently owned by insiders.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research note on Monday, November 26th. ValuEngine cut shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. HSBC assumed coverage on shares of Albemarle in a research note on Monday, December 3rd. They set a “hold” rating and a $112.50 price target for the company. Loop Capital increased their price target on shares of Albemarle from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. Finally, Deutsche Bank increased their price target on shares of Albemarle from $84.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $104.68.

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About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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