Stratos Wealth Partners LTD. lessened its holdings in Albemarle Co. (NYSE:ALB – Get Rating) by 78.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,006 shares of the specialty chemicals company’s stock after selling 3,769 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Albemarle were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in ALB. Kozak & Associates Inc. purchased a new stake in Albemarle in the 3rd quarter valued at approximately $27,000. Signaturefd LLC boosted its holdings in Albemarle by 40.7% in the 3rd quarter. Signaturefd LLC now owns 325 shares of the specialty chemicals company’s stock valued at $71,000 after purchasing an additional 94 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Albemarle by 16.1% in the 3rd quarter. Global Retirement Partners LLC now owns 375 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 52 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Albemarle by 18.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 373 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 58 shares in the last quarter. Finally, Stephenson National Bank & Trust purchased a new stake in Albemarle in the 3rd quarter valued at approximately $88,000. 78.48% of the stock is currently owned by institutional investors.
In other news, CEO J Kent Masters purchased 5,241 shares of the company’s stock in a transaction on Friday, February 18th. The shares were bought at an average price of $190.80 per share, for a total transaction of $999,982.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott Tozier sold 1,527 shares of the firm’s stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $239.94, for a total transaction of $366,388.38. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.
Several brokerages have recently commented on ALB. Citigroup decreased their price target on Albemarle from $280.00 to $244.00 in a research note on Friday, February 18th. Royal Bank of Canada decreased their price target on Albemarle from $290.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 22nd. Berenberg Bank upgraded Albemarle to a “buy” rating and lifted their price objective for the stock from $280.00 to $298.00 in a research report on Friday, November 19th. Bank of America cut their price target on Albemarle from $230.00 to $216.00 in a report on Friday, February 18th. Finally, Zacks Investment Research downgraded Albemarle from a “strong-buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Monday, February 21st. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Albemarle has a consensus rating of “Hold” and a consensus price target of $239.14.
ALB opened at $196.37 on Friday. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 183.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.54. Albemarle Co. has a fifty-two week low of $141.94 and a fifty-two week high of $291.48. The company’s 50-day moving average price is $208.95 and its 200 day moving average price is $231.09. The company has a quick ratio of 0.64, a current ratio of 1.07 and a debt-to-equity ratio of 0.35.
Albemarle (NYSE:ALB – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The specialty chemicals company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.05. The firm had revenue of $894.20 million for the quarter, compared to analyst estimates of $889.88 million. Albemarle had a net margin of 3.72% and a return on equity of 7.79%. Albemarle’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. Research analysts anticipate that Albemarle Co. will post 5.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Friday, March 18th will be paid a dividend of $0.395 per share. This is a positive change from Albemarle’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, March 17th. This represents a $1.58 annualized dividend and a yield of 0.80%. Albemarle’s dividend payout ratio is 145.80%.
Albemarle Profile (Get Rating)
Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine, Catalysts, and All Other.
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