Commerce Bank Acquires 525 Shares of Albemarle Co. (NYSE:ALB)

Commerce Bank increased its holdings in shares of Albemarle Co. (NYSE:ALBFree Report) by 5.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,667 shares of the specialty chemicals company’s stock after purchasing an additional 525 shares during the quarter. Commerce Bank’s holdings in Albemarle were worth $1,541,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. USCF Advisers LLC raised its holdings in shares of Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Arlington Trust Co LLC acquired a new position in shares of Albemarle during the fourth quarter worth about $30,000. Tyler Stone Wealth Management bought a new position in shares of Albemarle during the third quarter worth about $35,000. VisionPoint Advisory Group LLC raised its position in Albemarle by 21,400.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 214 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Albemarle by 77.2% in the 4th quarter. Assetmark Inc. now owns 257 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 112 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALB has been the subject of a number of analyst reports. Oppenheimer decreased their target price on shares of Albemarle from $191.00 to $188.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Scotiabank reaffirmed a “sector perform” rating and set a $135.00 price target (down from $150.00) on shares of Albemarle in a research report on Tuesday, May 21st. Vertical Research cut shares of Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a research note on Friday, March 8th. UBS Group dropped their target price on shares of Albemarle from $137.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Finally, Wolfe Research assumed coverage on Albemarle in a report on Friday, March 1st. They set a “peer perform” rating for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $165.16.

Read Our Latest Analysis on ALB

Albemarle Stock Performance

NYSE ALB opened at $127.76 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 46.46, a P/E/G ratio of 2.60 and a beta of 1.65. Albemarle Co. has a 1 year low of $106.69 and a 1 year high of $247.44. The firm’s 50 day simple moving average is $124.70 and its 200 day simple moving average is $126.15.

Albemarle (NYSE:ALBGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $10.32 earnings per share. Albemarle’s revenue for the quarter was down 47.3% compared to the same quarter last year. As a group, research analysts expect that Albemarle Co. will post 3.07 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.25%. Albemarle’s dividend payout ratio is currently 58.18%.

Insiders Place Their Bets

In other news, CAO John Clarence Barichivich III sold 1,475 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at $626,882.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the sale, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the transaction, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

About Albemarle

(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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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