Albemarle Co. (NYSE:ALB) Shares Sold by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC trimmed its position in shares of Albemarle Co. (NYSE:ALBFree Report) by 18.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,887 shares of the specialty chemicals company’s stock after selling 1,086 shares during the period. Richard W. Paul & Associates LLC’s holdings in Albemarle were worth $706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in Albemarle by 147.2% during the 4th quarter. Venturi Wealth Management LLC now owns 262 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 156 shares during the period. TIAA Trust National Association boosted its position in Albemarle by 6.7% during the 4th quarter. TIAA Trust National Association now owns 3,778 shares of the specialty chemicals company’s stock worth $546,000 after purchasing an additional 236 shares during the period. State of Michigan Retirement System boosted its position in Albemarle by 10.2% during the 4th quarter. State of Michigan Retirement System now owns 35,507 shares of the specialty chemicals company’s stock worth $5,130,000 after purchasing an additional 3,300 shares during the period. Oak Thistle LLC boosted its position in Albemarle by 464.3% during the 4th quarter. Oak Thistle LLC now owns 7,122 shares of the specialty chemicals company’s stock worth $1,029,000 after purchasing an additional 5,860 shares during the period. Finally, JB Capital LLC purchased a new stake in Albemarle during the 4th quarter worth $203,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALB. UBS Group decreased their price target on shares of Albemarle from $137.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, February 15th. TD Cowen cut shares of Albemarle from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $220.00 to $130.00 in a research report on Monday, January 29th. Wells Fargo & Company decreased their price objective on shares of Albemarle from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Wolfe Research initiated coverage on shares of Albemarle in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada decreased their price objective on shares of Albemarle from $140.00 to $138.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $176.70.

Read Our Latest Report on Albemarle

Albemarle Price Performance

NYSE ALB traded up $3.30 on Wednesday, reaching $129.78. The company’s stock had a trading volume of 784,755 shares, compared to its average volume of 3,394,283. The firm has a market cap of $15.25 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 2.56 and a beta of 1.62. The business has a 50-day moving average price of $121.62 and a 200 day moving average price of $133.29. Albemarle Co. has a 52 week low of $106.69 and a 52 week high of $247.44. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.86. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.62 earnings per share. Sell-side analysts expect that Albemarle Co. will post 3.15 EPS for the current year.

Albemarle Announces Dividend

The business 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 $0.40 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.23%. Albemarle’s payout ratio is 11.99%.

Albemarle Company Profile

(Free Report)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.

Further Reading

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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