Chartwell Investment Partners LLC increased its position in Albemarle Co. (NYSE:ALB) by 5.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,197 shares of the specialty chemicals company’s stock after acquiring an additional 1,130 shares during the period. Chartwell Investment Partners LLC’s holdings in Albemarle were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Kinneret Advisory LLC purchased a new position in Albemarle in the 4th quarter worth $100,000. Morgan Stanley grew its position in Albemarle by 29.4% during the 3rd quarter. Morgan Stanley now owns 367,529 shares of the specialty chemicals company’s stock worth $36,671,000 after purchasing an additional 83,448 shares during the period. KAMES CAPITAL plc grew its position in Albemarle by 1.2% during the 4th quarter. KAMES CAPITAL plc now owns 529,307 shares of the specialty chemicals company’s stock worth $40,794,000 after purchasing an additional 6,073 shares during the period. Rothschild Investment Corp IL grew its position in Albemarle by 0.5% during the 4th quarter. Rothschild Investment Corp IL now owns 77,503 shares of the specialty chemicals company’s stock worth $5,973,000 after purchasing an additional 401 shares during the period. Finally, SG Americas Securities LLC grew its position in Albemarle by 185.6% during the 4th quarter. SG Americas Securities LLC now owns 83,968 shares of the specialty chemicals company’s stock worth $6,471,000 after purchasing an additional 54,566 shares during the period. Institutional investors own 94.08% of the company’s stock.
NYSE:ALB opened at $82.26 on Tuesday. Albemarle Co. has a 52 week low of $71.89 and a 52 week high of $108.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 1.69. The stock has a market cap of $8.86 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 0.90 and a beta of 1.64.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Albemarle’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.79%. Albemarle’s dividend payout ratio (DPR) is 26.82%.
In other news, CFO Scott Tozier sold 2,961 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $269,451.00. Following the sale, the chief financial officer now directly owns 49,672 shares in the company, valued at approximately $4,520,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $113,113.00. Following the sale, the executive vice president now owns 34,757 shares in the company, valued at $3,162,887. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Several brokerages have weighed in on ALB. Loop Capital increased their price target on Albemarle from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, February 21st. ValuEngine raised Albemarle from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd. Deutsche Bank increased their price target on Albemarle from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 25th. KeyCorp cut their price target on Albemarle from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Citigroup downgraded Albemarle from a “buy” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $81.00 in a research report on Tuesday, February 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $100.85.
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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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