Halter Ferguson Financial Inc. Invests $2.10 Million in Albemarle Co. (NYSE:ALB)

Halter Ferguson Financial Inc. acquired a new stake in shares of Albemarle Co. (NYSE:ALB) in the fourth quarter, HoldingsChannel reports. The firm acquired 14,523 shares of the specialty chemicals company’s stock, valued at approximately $2,098,000. Albemarle comprises 1.3% of Halter Ferguson Financial Inc.’s portfolio, making the stock its 14th biggest holding.

Several other hedge funds have also made changes to their positions in the company. USCF Advisers LLC increased its position in shares of Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC purchased a new position in Albemarle during the 4th quarter worth approximately $30,000. Tyler Stone Wealth Management acquired a new stake in shares of Albemarle in the 3rd quarter valued at $35,000. VisionPoint Advisory Group LLC increased its holdings in shares of Albemarle by 21,400.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 214 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Albemarle by 77.2% during the fourth quarter. Assetmark Inc. now owns 257 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 112 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Albemarle

In related news, SVP Mark Richard Mummert sold 843 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the transaction, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total transaction of $114,251.79. Following the sale, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at $921,875.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Albemarle Trading Up 3.8 %

ALB stock traded up $4.64 during midday trading on Friday, reaching $127.59. The company’s stock had a trading volume of 1,443,410 shares, compared to its average volume of 3,061,679. Albemarle Co. has a 1 year low of $106.69 and a 1 year high of $247.44. The stock has a fifty day simple moving average of $124.39 and a two-hundred day simple moving average of $125.85. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 2.58 and a beta of 1.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Albemarle had a net margin of 4.02% and a return on equity of 14.53%. Albemarle’s quarterly revenue was down 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.32 EPS. On average, equities research analysts predict that Albemarle Co. will post 3.07 EPS for the current year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, June 14th. Albemarle’s payout ratio is 58.18%.

Analysts Set New Price Targets

Several analysts have weighed in on ALB shares. KeyCorp dropped their price objective on shares of Albemarle from $178.00 to $159.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Wells Fargo & Company boosted their price objective on shares of Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $157.00 price target on shares of Albemarle in a research report on Friday. Citigroup raised their price target on Albemarle from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Bank of America raised Albemarle from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $137.00 to $156.00 in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Albemarle currently has an average rating of “Hold” and a consensus target price of $165.16.

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.