Taylor Hoffman Wealth Management Boosts Holdings in Albemarle Co. (NYSE:ALB)

Taylor Hoffman Wealth Management raised its stake in shares of Albemarle Co. (NYSE:ALB) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,465 shares of the specialty chemicals company’s stock after purchasing an additional 1,001 shares during the period. Albemarle accounts for 1.1% of Taylor Hoffman Wealth Management’s holdings, making the stock its 25th biggest position. Taylor Hoffman Wealth Management’s holdings in Albemarle were worth $1,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALB. Gemmer Asset Management LLC grew its position in shares of Albemarle by 71.1% during the second quarter. Gemmer Asset Management LLC now owns 361 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Retirement Systems of Alabama increased its stake in Albemarle by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 49,415 shares of the specialty chemicals company’s stock worth $3,479,000 after purchasing an additional 171 shares in the last quarter. Wealthstreet Investment Advisors LLC increased its stake in Albemarle by 3.8% in the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 4,800 shares of the specialty chemicals company’s stock worth $338,000 after purchasing an additional 175 shares in the last quarter. Gs Investments Inc. increased its stake in Albemarle by 0.9% in the 2nd quarter. Gs Investments Inc. now owns 19,007 shares of the specialty chemicals company’s stock worth $1,338,000 after purchasing an additional 175 shares in the last quarter. Finally, Regent Investment Management LLC increased its stake in Albemarle by 1.4% in the 3rd quarter. Regent Investment Management LLC now owns 13,070 shares of the specialty chemicals company’s stock worth $909,000 after purchasing an additional 175 shares in the last quarter. 90.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of ALB traded down $3.41 on Friday, reaching $67.98. 3,387,165 shares of the stock traded hands, compared to its average volume of 1,513,135. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.09 and a beta of 1.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.45 and a quick ratio of 0.87. Albemarle Co. has a 12 month low of $58.63 and a 12 month high of $104.50. The stock’s 50-day moving average price is $66.80 and its 200-day moving average price is $68.65.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 6th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The business had revenue of $879.70 million for the quarter, compared to analysts’ expectations of $883.67 million. During the same period in the previous year, the business posted $1.31 earnings per share. Albemarle’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Albemarle Co. will post 6.09 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.368 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 2.17%. This is a boost from Albemarle’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, December 12th. Albemarle’s dividend payout ratio is 26.82%.

Several equities analysts have weighed in on ALB shares. G.Research reaffirmed a “buy” rating on shares of Albemarle in a research note on Thursday, September 12th. SunTrust Banks lowered Albemarle from a “buy” rating to a “hold” rating and set a $68.00 target price for the company. in a report on Friday, October 25th. UBS Group reduced their target price on Albemarle from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered Albemarle from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Friday. Finally, Deutsche Bank reduced their target price on Albemarle from $80.00 to $70.00 and set a “hold” rating for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Albemarle presently has a consensus rating of “Hold” and an average price target of $85.65.

In other Albemarle news, CEO Luther C. Iv Kissam sold 36,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.00, for a total value of $2,520,000.00. Following the transaction, the chief executive officer now owns 334,046 shares of the company’s stock, valued at $23,383,220. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric Norris acquired 3,090 shares of Albemarle stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $64.66 per share, for a total transaction of $199,799.40. Following the purchase, the insider now owns 164 shares of the company’s stock, valued at approximately $10,604.24. The disclosure for this purchase can be found here. Corporate insiders own 1.02% of the company’s stock.

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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