Keybank National Association OH lessened its stake in shares of Albemarle Co. (NYSE:ALB) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,085 shares of the specialty chemicals company’s stock after selling 1,785 shares during the quarter. Keybank National Association OH’s holdings in Albemarle were worth $2,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALB. Proficio Capital Partners LLC boosted its position in shares of Albemarle by 143.1% in the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of Albemarle in the 4th quarter worth $27,000. Alpha Omega Wealth Management LLC boosted its position in shares of Albemarle by 125.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 360 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. First Quadrant L P CA acquired a new stake in shares of Albemarle in the 4th quarter worth $31,000. Finally, Private Capital Group LLC boosted its position in shares of Albemarle by 332.7% in the 4th quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 326 shares in the last quarter. 88.58% of the stock is currently owned by institutional investors and hedge funds.

ALB has been the subject of a number of recent analyst reports. Citigroup cut Albemarle from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $90.00 to $81.00 in a research report on Tuesday, February 5th. reissued a “buy” rating and issued a $157.00 price objective on shares of Albemarle in a research report on Thursday, February 14th. Loop Capital raised their price objective on Albemarle from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, February 21st. ValuEngine raised Albemarle from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd. Finally, Deutsche Bank raised their price objective on Albemarle from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $98.98.

In other news, SVP Deeanne J. Marlow purchased 1,000 shares of the stock in a transaction on Monday, May 13th. The stock was bought at an average price of $70.85 per share, with a total value of $70,850.00. Following the transaction, the senior vice president now owns 1,000 shares in the company, valued at approximately $70,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott Tozier sold 2,961 shares of Albemarle stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $91.00, for a total value of $269,451.00. Following the sale, the chief financial officer now directly owns 49,672 shares of the company’s stock, valued at approximately $4,520,152. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Shares of ALB opened at $66.80 on Friday. Albemarle Co. has a one year low of $67.06 and a one year high of $108.74. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.71 and a beta of 1.56.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The company had revenue of $832.06 million during the quarter, compared to analysts’ expectations of $827.94 million. During the same quarter in the previous year, the firm posted $1.30 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Albemarle Co. will post 6.24 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.3675 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.47 dividend on an annualized basis and a yield of 2.20%. Albemarle’s dividend payout ratio is currently 26.82%.

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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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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