Meridian Management Co. Buys 2,625 Shares of Albemarle Co. (ALB)

Meridian Management Co. lifted its stake in Albemarle Co. (NYSE:ALB) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,826 shares of the specialty chemicals company’s stock after purchasing an additional 2,625 shares during the period. Meridian Management Co.’s holdings in Albemarle were worth $1,707,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Albemarle by 0.4% during the fourth quarter. BlackRock Inc. now owns 7,445,317 shares of the specialty chemicals company’s stock worth $573,810,000 after purchasing an additional 26,145 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Albemarle by 0.5% during the fourth quarter. Baillie Gifford & Co. now owns 2,636,011 shares of the specialty chemicals company’s stock worth $203,158,000 after purchasing an additional 13,487 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Albemarle by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,358,277 shares of the specialty chemicals company’s stock worth $104,495,000 after purchasing an additional 67,439 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Albemarle by 29.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,345,000 shares of the specialty chemicals company’s stock worth $103,659,000 after purchasing an additional 305,829 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Albemarle by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,626 shares of the specialty chemicals company’s stock worth $93,921,000 after purchasing an additional 116,753 shares in the last quarter. Hedge funds and other institutional investors own 94.26% of the company’s stock.

Shares of ALB stock opened at $69.44 on Tuesday. The stock has a market capitalization of $7.26 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.78 and a beta of 1.56. Albemarle Co. has a 52-week low of $68.45 and a 52-week high of $108.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.55.



Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.02. The firm had revenue of $832.06 million for the quarter, compared to analysts’ expectations of $827.94 million. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. As a group, equities research analysts forecast that Albemarle Co. will post 6.21 EPS for the current fiscal year.

The business 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 $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, June 13th. Albemarle’s dividend payout ratio (DPR) is presently 26.82%.

In other Albemarle news, CFO Scott Tozier sold 2,961 shares of the business’s stock in a transaction that occurred 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 owns 49,672 shares in the company, valued at approximately $4,520,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karen G. Narwold sold 1,243 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $91.00, for a total value of $113,113.00. Following the transaction, the executive vice president now owns 34,757 shares in the company, valued at approximately $3,162,887. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

ALB has been the topic of a number of research analyst reports. Nomura cut Albemarle from a “buy” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $85.00 in a research report on Tuesday, January 15th. Vertical Group cut their target price on Albemarle from $86.00 to $59.00 in a research report on Tuesday, January 15th. ValuEngine cut Albemarle from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 16th. Loop Capital cut their target price on Albemarle to $112.00 and set a “buy” rating on the stock in a research report on Friday, January 18th. They noted that the move was a valuation call. Finally, Citigroup cut Albemarle from a “buy” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $81.00 in a research report on Tuesday, February 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $100.23.

WARNING: “Meridian Management Co. Buys 2,625 Shares of Albemarle Co. (ALB)” was reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://dakotafinancialnews.com/2019/05/14/meridian-management-co-buys-2625-shares-of-albemarle-co-alb.html.

Albemarle Company 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.

Read More: Liquidity

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:ALB).

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.