Meridian Management Co. Raises Holdings in Albemarle Co. (ALB)

Meridian Management Co. grew its stake in Albemarle Co. (NYSE:ALB) by 48.4% during the third quarter, HoldingsChannel.com reports. The firm owned 23,061 shares of the specialty chemicals company’s stock after purchasing an additional 7,523 shares during the quarter. Meridian Management Co.’s holdings in Albemarle were worth $2,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Credit Agricole S A acquired a new position in Albemarle during the second quarter worth $123,000. SeaCrest Wealth Management LLC grew its holdings in Albemarle by 145.9% during the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 1,004 shares during the period. Palladium Partners LLC acquired a new position in Albemarle during the third quarter worth $205,000. GSA Capital Partners LLP acquired a new position in Albemarle during the second quarter worth $212,000. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in Albemarle during the third quarter worth $215,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Karen G. Narwold sold 3,100 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total transaction of $301,041.00. Following the transaction, the executive vice president now directly owns 30,242 shares in the company, valued at $2,936,800.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.



A number of research analysts recently weighed in on the company. SunTrust Banks raised Albemarle from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $115.00 in a report on Tuesday, September 4th. Loop Capital set a $130.00 price objective on Albemarle and gave the stock a “buy” rating in a report on Monday, October 8th. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Tuesday, August 7th. ValuEngine lowered Albemarle from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Finally, Vertical Research assumed coverage on Albemarle in a report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $124.55.

Shares of NYSE:ALB traded up $0.55 on Tuesday, hitting $95.71. The company had a trading volume of 15,439 shares, compared to its average volume of 1,366,188. The company has a quick ratio of 1.55, a current ratio of 2.19 and a debt-to-equity ratio of 0.37. Albemarle Co. has a 52-week low of $86.75 and a 52-week high of $144.99. The company has a market capitalization of $10.33 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.24 and a beta of 1.69.

Albemarle (NYSE:ALB) last released its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.08. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. The firm had revenue of $853.87 million for the quarter, compared to the consensus estimate of $799.49 million. On average, sell-side analysts anticipate that Albemarle Co. will post 5.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.40%. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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