Albemarle Co. (ALB) Position Trimmed by SFE Investment Counsel

SFE Investment Counsel decreased its holdings in shares of Albemarle Co. (NYSE:ALB) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,116 shares of the specialty chemicals company’s stock after selling 1,602 shares during the quarter. SFE Investment Counsel’s holdings in Albemarle were worth $583,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. DNB Asset Management AS increased its position in Albemarle by 37.5% during the 4th quarter. DNB Asset Management AS now owns 18,849 shares of the specialty chemicals company’s stock worth $1,453,000 after purchasing an additional 5,138 shares in the last quarter. Virtu Financial LLC boosted its stake in Albemarle by 28.9% in the 4th quarter. Virtu Financial LLC now owns 11,700 shares of the specialty chemicals company’s stock worth $902,000 after buying an additional 2,624 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC acquired a new stake in Albemarle in the 4th quarter worth about $203,000. Handelsinvest Investeringsforvaltning boosted its stake in Albemarle by 32.4% in the 4th quarter. Handelsinvest Investeringsforvaltning now owns 8,374 shares of the specialty chemicals company’s stock worth $645,000 after buying an additional 2,048 shares during the last quarter. Finally, Strs Ohio boosted its stake in Albemarle by 49.1% in the 4th quarter. Strs Ohio now owns 11,284 shares of the specialty chemicals company’s stock worth $869,000 after buying an additional 3,717 shares during the last quarter. Hedge funds and other institutional investors own 94.20% of the company’s stock.

A number of analysts have issued reports on the company. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price target (down from $114.00) on shares of Albemarle in a research note on Monday. They noted that the move was a valuation call. KeyCorp decreased their price target on Albemarle from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Loop Capital decreased their price target on Albemarle to $108.00 and set a “buy” rating on the stock in a research note on Thursday. ValuEngine raised Albemarle from a “strong sell” rating to a “sell” rating in a research note on Friday, February 22nd. Finally, Royal Bank of Canada decreased their price target on Albemarle to $100.00 and set an “outperform” rating on the stock in a research note on Friday, March 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Albemarle currently has a consensus rating of “Hold” and an average target price of $98.98.

In related news, CFO Scott Tozier sold 2,961 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $269,451.00. Following the transaction, the chief financial officer now directly owns 49,672 shares of the company’s stock, valued at $4,520,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deeanne J. Marlow purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the transaction, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $70,850. The disclosure for this purchase can be found here. 1.02% of the stock is currently owned by insiders.

Shares of Albemarle stock traded up $0.12 on Monday, reaching $67.88. 22,245 shares of the company were exchanged, compared to its average volume of 1,848,630. The firm has a market capitalization of $7.18 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.71 and a beta of 1.56. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. Albemarle Co. has a fifty-two week low of $67.60 and a fifty-two week high of $108.74.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The company had revenue of $832.06 million for the quarter, compared to analyst estimates of $827.94 million. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. Albemarle’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. Analysts expect that Albemarle Co. will post 6.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, June 13th. Albemarle’s payout ratio is 26.82%.

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Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, 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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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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