Ridgewood Investments LLC Purchases 1,851 Shares of Albemarle Co. (NYSE:ALB)

Ridgewood Investments LLC boosted its position in shares of Albemarle Co. (NYSE:ALB) by 31.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,795 shares of the specialty chemicals company’s stock after purchasing an additional 1,851 shares during the period. Ridgewood Investments LLC’s holdings in Albemarle were worth $569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Knuff & Co LLC boosted its position in shares of Albemarle by 102.4% during the third quarter. Knuff & Co LLC now owns 3,440 shares of the specialty chemicals company’s stock worth $239,000 after buying an additional 1,740 shares during the period. WealthPLAN Partners LLC boosted its position in Albemarle by 8.9% during the 3rd quarter. WealthPLAN Partners LLC now owns 102,757 shares of the specialty chemicals company’s stock worth $6,698,000 after acquiring an additional 8,408 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Albemarle by 21.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,118 shares of the specialty chemicals company’s stock worth $77,000 after acquiring an additional 200 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Albemarle by 18.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 63,087 shares of the specialty chemicals company’s stock worth $4,386,000 after acquiring an additional 9,830 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Albemarle by 7.3% in the third quarter. Parametric Portfolio Associates LLC now owns 256,167 shares of the specialty chemicals company’s stock valued at $17,809,000 after purchasing an additional 17,434 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Scott Tozier sold 2,753 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.56, for a total value of $197,004.68. Following the completion of the sale, the chief financial officer now directly owns 52,425 shares of the company’s stock, valued at $3,751,533. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.02% of the stock is owned by corporate insiders.

A number of analysts have recently commented on the stock. Wells Fargo & Co boosted their price objective on shares of Albemarle from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday. ValuEngine upgraded shares of Albemarle from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Buckingham Research lowered their price target on shares of Albemarle from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley cut their price target on shares of Albemarle from $60.00 to $50.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, UBS Group reduced their price objective on shares of Albemarle from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $82.93.

Shares of ALB traded up $2.43 during midday trading on Wednesday, reaching $80.61. The stock had a trading volume of 1,688,813 shares, compared to its average volume of 1,909,288. The firm has a 50 day simple moving average of $69.17 and a 200-day simple moving average of $67.87. Albemarle Co. has a one year low of $58.63 and a one year high of $93.14. The firm has a market cap of $7.64 billion, a PE ratio of 14.71, a P/E/G ratio of 1.48 and a beta of 1.67. The company has a current ratio of 1.39, a quick ratio of 0.82 and a debt-to-equity ratio of 0.34.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 6th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.04. Albemarle had a net margin of 16.27% and a return on equity of 15.94%. The company had revenue of $879.70 million for the quarter, compared to analysts’ expectations of $883.67 million. During the same period in the prior year, the firm earned $1.31 EPS. Albemarle’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts forecast that Albemarle Co. will post 6.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.368 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.47 annualized dividend and a yield of 1.83%. Albemarle’s dividend payout ratio is currently 26.82%.

Albemarle Company Profile

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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