Avalon Investment & Advisory Takes $14.82 Million Position in Albemarle Co. (NYSE:ALB)


Avalon Investment & Advisory acquired a new position in Albemarle Co. (NYSE: ALB – Get Rating) shares in the third quarter, the company said in a recent disclosure to the SEC. The company acquired 56,047 shares of a specialty chemical company valued at approximately $14,821,000.

Other institutional investors have increased or decreased their stakes in the company recently. Steward Partners Investment Advisory LLC increased Albemarle’s holdings by 6.0% from him in the second quarter. Steward Partners Investment Advisory LLC now owns 1,093 shares of the specialty chemical company valued at $228,000 after acquiring an additional 62 shares during this period. Gofen & Glossberg LLC IL purchased new shares in his Albemarle worth approximately $250,000 in the third quarter. Salem Investment Counselors Inc. increased her Albemarle holdings by 400.0% from his in the second quarter. Salem Investment Counselors Inc. now owns 750 shares of the specialty chemical company worth $157,000 after purchasing an additional 600 shares of him last quarter. Candriam SCA boosted his Albemarle position by 197.2% in the second quarter. After purchasing an additional 16,339 shares during this period, Candriam SCA now owns 24,625 shares of the specialty chemical company valued at $5,146,000. Finally, Aviva PLC increased his Albemarle stake by 3.3% in the second quarter. Aviva PLC now owns 27,114 shares of the specialty chemical company’s stock valued at $5,666,000 after acquiring an additional 860 shares in the previous quarter. Institutional investors and hedge funds own 82.24% of the company’s shares.

Analyst sets new price target

A number of research analysts have recently published reports on ALB stocks. Deutsche Bank Aktiengesellschaft lowered its price target for Albemarle to $290.00 from $325.00 in a report on Tuesday. Vertical Research in its Wednesday Jan. 4 research report raised Albemarle from a ‘hold’ rating to a ‘buy’ rating and set a price target of $275.00. In a report on Thursday, Mizuho lowered its price target on Albemarle shares from $325.00 to $300.00 and set the stock’s rating to “neutral.” Jefferies Financial Group reiterated its ‘buy’ rating in its Friday Sept. 30 report, setting a $350.00 price target on Albemarle shares. Finally, Bank of America raised its price target on Albemarle stock to $332.00 from $262.00, giving the company a Neutral rating in its Monday, October 3 report. Two research analysts gave the stock a sell rating, six issued a hold rating, and eight issued a buy rating. According to MarketBeat.com data, the stock currently has an average rating of “Hold” and an average target price of $287.47.

Insider activity at Albemarle

In another Albemarle news, insider Eric Norris sold 2,390 shares of the company in a transaction on Tuesday, November 8th. The shares sold for an average of $307.80, and the total trading value he had was $735,642.00. Following the closing of the transaction, insiders now own 15,564 shares of the company’s stock valued at approximately $4,790,599.20. The sale is disclosed in legal filings with the SEC, which can be accessed at this link. In another piece of Albemarle news, EVP Karen G. Narwold sold her 9,072 shares in her Friday, Nov. 11 deal. The shares sold at an average price of $322.26, giving her a total of $2,923,542.72. Following the closing of the transaction, the Executive Vice President now owns her 8,507 shares of the company, valued at his $2,741,465.82. The transaction was disclosed in documents filed with the Securities and Exchange Commission, available at this hyperlink. Also, his insider, Eric Norris, sold 2,390 shares of the company’s stock in a deal on Tuesday, November 8th. The shares were sold at an average price of $307.80 and the total transaction value he was $735,642.00. After the sale, the insider now owns 15,564 shares of the company’s stock, worth his $4,790,599.20. Please see here for the disclosure of this sale. Insiders say that in the past three months he has sold 17,681 shares of company stock worth $5,310,662. The insider owns his 0.25% of the company’s shares.

Albemarle Stock Performance

Albemarle shares opened Friday at $238.75. The stock has a market cap of $27.97 billion, a price/earnings ratio of 18.44, a PEG ratio of 0.49, and a beta of 1.45. The company has a 50-day simple moving average of $257.30 and a 200-day simple moving average of $256.51. The company has a debt to equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.08. Albemarle Co. has a 12-month low of $169.93 and a 12-month high of $334.55.

Albemarle (NYSE:ALB – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The specialty chemicals company reported his EPS of $7.50 for the quarter, beating analyst consensus expectations of $6.84 by $0.66. Albemarle’s net profit margin was 27.77% and return on equity was 26.84%. The company’s revenue for the quarter was $2.09 billion, compared with analyst estimates of $2.21 billion. Earnings of $1.05 per share last year. Albemarle’s quarterly revenue increased 151.9% year-over-year. As a group, equity analysts expect Albemarle Co. to post his 21.02 earnings per share this year.

Notice of Albemarle Dividend

The business recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Dividends of $0.395 per share were issued to investors of record on Friday, December 16th. This represents his $1.58 dividend and a 0.66% dividend yield on an annualized basis. The ex-dividend date for this dividend was December 15 (Thursday). Albemarle’s payout ratio is currently 11.98%.

Albemarle company profile

(get rating)

Albemarle Corporation develops, manufactures and markets engineered specialty chemicals worldwide. He operates in three segments: Lithium, Bromine and Catalysts. The Lithium division offers lithium compounds such as lithium carbonate, lithium hydroxide, lithium chloride and lithium specialties. Reagents such as butyllithium and lithium aluminum hydride used in lithium batteries for home appliances and electric vehicles, high-performance greases, thermoplastic elastomers for automobile tires, rubber soles, PET bottles, catalysts for chemical reactions, organic synthesis process steroids Chemicals and vitamins, life sciences, pharmaceutical industry, and other markets.

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Albemarle (NYSE:ALB) Quarterly Institutional Ownership

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