Albemarle Co. (NYSE:ALB) Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its holdings in shares of Albemarle Co. (NYSE:ALB) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,303 shares of the specialty chemicals company’s stock after purchasing an additional 325 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Albemarle were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA raised its holdings in shares of Albemarle by 6.3% during the third quarter. Primecap Management Co. CA now owns 2,230,955 shares of the specialty chemicals company’s stock valued at $379,352,000 after acquiring an additional 131,930 shares during the period. Morgan Stanley increased its holdings in shares of Albemarle by 10.3% in the 3rd quarter. Morgan Stanley now owns 1,570,906 shares of the specialty chemicals company’s stock valued at $267,117,000 after purchasing an additional 146,450 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Albemarle by 12.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,555,937 shares of the specialty chemicals company’s stock valued at $224,802,000 after purchasing an additional 174,391 shares during the last quarter. Invesco Ltd. increased its holdings in Albemarle by 14.1% in the third quarter. Invesco Ltd. now owns 1,221,765 shares of the specialty chemicals company’s stock worth $207,749,000 after buying an additional 151,158 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Albemarle by 3.0% in the third quarter. Northern Trust Corp now owns 1,188,914 shares of the specialty chemicals company’s stock worth $202,163,000 after purchasing an additional 35,019 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALB shares. Loop Capital lowered their price objective on shares of Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. TD Cowen lowered Albemarle from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $220.00 to $130.00 in a report on Monday, January 29th. Wells Fargo & Company raised their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. UBS Group dropped their price target on Albemarle from $137.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, February 15th. Finally, Wolfe Research began coverage on Albemarle in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $175.05.

Albemarle Stock Down 3.7 %

Shares of ALB stock traded down $4.65 during trading hours on Tuesday, reaching $121.08. The company had a trading volume of 666,443 shares, compared to its average volume of 3,195,135. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.62. The business has a fifty day simple moving average of $122.85 and a 200-day simple moving average of $127.18. Albemarle Co. has a 12 month low of $106.69 and a 12 month high of $247.44.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.86. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.18 billion. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $8.62 EPS. On average, research analysts expect that Albemarle Co. will post 3.3 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. Albemarle’s dividend payout ratio (DPR) is 11.99%.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.