Flagship Harbor Advisors LLC Raises Holdings in Albemarle Co. (ALB)

Flagship Harbor Advisors LLC raised its stake in Albemarle Co. (NYSE:ALB) by 25.5% in the third quarter, HoldingsChannel.com reports. The firm owned 3,345 shares of the specialty chemicals company’s stock after acquiring an additional 679 shares during the period. Flagship Harbor Advisors LLC’s holdings in Albemarle were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Dividend Assets Capital LLC lifted its holdings in shares of Albemarle by 2.1% during the 3rd quarter. Dividend Assets Capital LLC now owns 29,187 shares of the specialty chemicals company’s stock worth $2,912,000 after acquiring an additional 611 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Albemarle by 13.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 17,412 shares of the specialty chemicals company’s stock worth $1,737,000 after acquiring an additional 2,023 shares during the period. Gulf International Bank UK Ltd lifted its holdings in shares of Albemarle by 8.7% during the 3rd quarter. Gulf International Bank UK Ltd now owns 37,830 shares of the specialty chemicals company’s stock worth $3,774,000 after acquiring an additional 3,021 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Albemarle during the 3rd quarter worth about $1,128,000. Finally, Bank of The West lifted its holdings in shares of Albemarle by 40.2% during the 3rd quarter. Bank of The West now owns 22,560 shares of the specialty chemicals company’s stock worth $2,251,000 after acquiring an additional 6,468 shares during the period. 90.99% of the stock is owned by hedge funds and other institutional investors.

ALB opened at $102.38 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.19 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.41 and a beta of 1.53. Albemarle Co. has a 1-year low of $86.75 and a 1-year high of $143.66.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $796.79 million. Albemarle had a net margin of 10.44% and a return on equity of 15.21%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 EPS. As a group, equities research analysts forecast that Albemarle Co. will post 5.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, December 13th. Albemarle’s payout ratio is presently 29.19%.

Several equities analysts recently issued reports on the stock. ValuEngine raised shares of Albemarle from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Vertical Research assumed coverage on shares of Albemarle in a report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price target for the company. Vertical Group assumed coverage on shares of Albemarle in a report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price target for the company. Berenberg Bank set a $130.00 price target on shares of Albemarle and gave the company a “buy” rating in a report on Friday. Finally, Loop Capital set a $130.00 price target on shares of Albemarle and gave the company a “buy” rating in a report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $123.50.

In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total value of $301,041.00. Following the completion of the sale, the executive vice president now owns 30,242 shares in the company, valued at approximately $2,936,800.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.

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About Albemarle

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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