Fieldview Capital Management LLC Sells 15,943 Shares of Albemarle Corporation $ALB

Fieldview Capital Management LLC lowered its position in shares of Albemarle Corporation (NYSE:ALB) by 42.2% in the third quarter, Holdings Channel reports. The institutional investor owned 21,836 shares of the specialty chemicals company’s stock after selling 15,943 shares during the period. Fieldview Capital Management LLC’s holdings in Albemarle were worth $1,770,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC increased its position in Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 483 shares during the period. Physician Wealth Advisors Inc. bought a new stake in Albemarle in the 3rd quarter valued at about $40,000. Assetmark Inc. grew its position in shares of Albemarle by 248.0% during the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 491 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Albemarle by 70.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 692 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Albemarle from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. BMO Capital Markets increased their price target on Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Evercore raised their price objective on Albemarle from $100.00 to $180.00 in a research note on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price objective on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Finally, Stephens reiterated an “outperform” rating on shares of Albemarle in a research report on Friday, December 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.24.

Albemarle Stock Performance

NYSE ALB opened at $169.59 on Tuesday. The firm’s 50 day simple moving average is $169.14 and its 200 day simple moving average is $126.66. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of -29.49, a P/E/G ratio of 1.29 and a beta of 1.43. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $206.00.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned ($1.09) earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Albemarle’s payout ratio is -28.17%.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.