Brown Advisory Inc. increased its position in shares of Albemarle Co. (NYSE:ALB) by 5.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,823 shares of the specialty chemicals company’s stock after buying an additional 1,369 shares during the period. Brown Advisory Inc.’s holdings in Albemarle were worth $2,477,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALB. Credit Agricole S A bought a new position in Albemarle during the second quarter worth $123,000. SeaCrest Wealth Management LLC raised its stake in Albemarle by 145.9% during the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 1,004 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in Albemarle by 17,210.0% during the third quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock worth $171,000 after buying an additional 1,721 shares during the last quarter. Palladium Partners LLC bought a new position in Albemarle during the third quarter worth $205,000. Finally, GSA Capital Partners LLP bought a new position in Albemarle during the second quarter worth $212,000. 92.73% of the stock is owned by institutional investors and hedge funds.
ALB opened at $88.65 on Friday. Albemarle Co. has a 1-year low of $86.75 and a 1-year high of $138.67. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.03 and a beta of 1.52.
Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $778.00 million during the quarter, compared to the consensus estimate of $796.79 million. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, equities analysts predict that Albemarle Co. will post 5.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 13th. Albemarle’s payout ratio is presently 29.19%.
A number of equities analysts recently weighed in on the stock. Loop Capital set a $130.00 target price on shares of Albemarle and gave the stock a “buy” rating in a research note on Friday, October 19th. ValuEngine downgraded shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Vertical Research began coverage on shares of Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target for the company. Vertical Group began coverage on shares of Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $122.43.
In other news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $96.54, for a total transaction of $299,274.00. Following the completion of the sale, the executive vice president now directly owns 27,142 shares of the company’s stock, valued at $2,620,288.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.80% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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