Peloton Wealth Strategists Boosts Stock Position in Albemarle Co. (NYSE:ALB)

Peloton Wealth Strategists boosted its stake in shares of Albemarle Co. (NYSE:ALBFree Report) by 18.7% in the 4th quarter, HoldingsChannel reports. The fund owned 6,765 shares of the specialty chemicals company’s stock after buying an additional 1,068 shares during the quarter. Peloton Wealth Strategists’ holdings in Albemarle were worth $977,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALB. Deutsche Bank AG boosted its holdings in Albemarle by 5.4% during the 3rd quarter. Deutsche Bank AG now owns 283,876 shares of the specialty chemicals company’s stock valued at $48,270,000 after acquiring an additional 14,593 shares during the period. Mizuho Markets Americas LLC purchased a new stake in Albemarle during the 3rd quarter valued at about $2,591,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Albemarle by 4.3% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,437 shares of the specialty chemicals company’s stock valued at $1,435,000 after acquiring an additional 351 shares during the period. Kestra Advisory Services LLC boosted its holdings in Albemarle by 80.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 19,757 shares of the specialty chemicals company’s stock valued at $3,359,000 after acquiring an additional 8,799 shares during the period. Finally, Rafferty Asset Management LLC raised its position in Albemarle by 12.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 10,742 shares of the specialty chemicals company’s stock valued at $1,827,000 after purchasing an additional 1,213 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Performance

NYSE:ALB traded down $4.23 during mid-day trading on Friday, hitting $104.00. The company’s stock had a trading volume of 2,378,436 shares, compared to its average volume of 2,975,283. Albemarle Co. has a 1 year low of $103.38 and a 1 year high of $247.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 2.83 and a beta of 1.61. The business’s fifty day moving average is $122.80 and its two-hundred day moving average is $125.47.

Albemarle (NYSE:ALBGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.09). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company posted $10.32 earnings per share. Albemarle’s revenue for the quarter was down 47.3% compared to the same quarter last year. Analysts anticipate that Albemarle Co. will post 2.49 EPS for the current fiscal year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, June 14th. Albemarle’s payout ratio is currently 58.18%.

Analysts Set New Price Targets

A number of research analysts have commented on ALB shares. Mizuho upped their price target on Albemarle from $112.00 to $128.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $157.00 price target on shares of Albemarle in a research report on Friday, May 24th. Wolfe Research began coverage on Albemarle in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Bank of America raised Albemarle from a “neutral” rating to a “buy” rating and raised their price objective for the company from $137.00 to $156.00 in a research report on Wednesday, April 10th. Finally, Citigroup raised their price objective on Albemarle from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.11.

View Our Latest Stock Analysis on Albemarle

Insider Transactions at Albemarle

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

Albemarle 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.

Read More

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALBFree Report).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.