Beaumont Asset Management L.L.C. Sells 1,376 Shares of Albemarle Co. (NYSE:ALB)

Beaumont Asset Management L.L.C. trimmed its position in shares of Albemarle Co. (NYSE:ALB) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,525 shares of the specialty chemicals company’s stock after selling 1,376 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Albemarle were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ALB. International Assets Investment Management LLC grew its stake in Albemarle by 16.6% during the third quarter. International Assets Investment Management LLC now owns 2,296 shares of the specialty chemicals company’s stock worth $373,000 after buying an additional 327 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Albemarle by 75.8% during the third quarter. AE Wealth Management LLC now owns 13,038 shares of the specialty chemicals company’s stock worth $2,217,000 after purchasing an additional 5,620 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Albemarle by 72.3% during the third quarter. Geneos Wealth Management Inc. now owns 305 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 128 shares in the last quarter. RFG Advisory LLC acquired a new position in shares of Albemarle during the third quarter worth approximately $435,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of Albemarle during the third quarter worth approximately $213,000. 92.87% of the stock is owned by institutional investors.

Albemarle Stock Up 1.7 %

Shares of ALB stock traded up $1.92 during trading hours on Tuesday, hitting $114.21. 1,725,414 shares of the company were exchanged, compared to its average volume of 3,267,532. The business has a 50 day moving average of $122.89 and a two-hundred day moving average of $128.77. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Albemarle Co. has a 52 week low of $106.69 and a 52 week high of $247.44. The company has a market capitalization of $13.42 billion, a PE ratio of 8.42, a PEG ratio of 2.27 and a beta of 1.62.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share (EPS) 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 the consensus estimate of $2.18 billion. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.62 earnings per share. Analysts anticipate that Albemarle Co. will post 3.09 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, March 14th. Albemarle’s dividend payout ratio is currently 11.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Cowen lowered shares of Albemarle from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $220.00 to $130.00 in a research report on Monday, January 29th. Royal Bank of Canada reduced their target price on shares of Albemarle from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Berenberg Bank upgraded shares of Albemarle from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $160.00 in a research report on Thursday, April 11th. UBS Group reduced their target price on shares of Albemarle from $137.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, February 15th. Finally, Wells Fargo & Company increased their price objective on shares of Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus price target of $175.05.

Albemarle Company Profile

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.