Albemarle Co. (NYSE:ALB) Shares Sold by Livingston Group Asset Management CO operating as Southport Capital Management

Livingston Group Asset Management CO operating as Southport Capital Management reduced its stake in shares of Albemarle Co. (NYSE:ALBGet Rating) by 9.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,122 shares of the specialty chemicals company’s stock after selling 123 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Albemarle were worth $248,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Albemarle by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 374,821 shares of the specialty chemicals company’s stock worth $87,622,000 after purchasing an additional 18,952 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Albemarle by 93,900.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,880 shares of the specialty chemicals company’s stock worth $416,000 after purchasing an additional 1,878 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Albemarle by 96.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,916 shares of the specialty chemicals company’s stock worth $9,799,000 after purchasing an additional 20,584 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Albemarle in the fourth quarter valued at approximately $561,000. Finally, KCM Investment Advisors LLC lifted its holdings in Albemarle by 3.7% in the fourth quarter. KCM Investment Advisors LLC now owns 6,587 shares of the specialty chemicals company’s stock valued at $1,540,000 after acquiring an additional 237 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Albemarle stock opened at $200.43 on Wednesday. Albemarle Co. has a twelve month low of $163.20 and a twelve month high of $291.48. The stock’s fifty day simple moving average is $226.98 and its 200-day simple moving average is $217.79. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $23.47 billion, a P/E ratio of 84.21, a P/E/G ratio of 0.60 and a beta of 1.57.

Albemarle (NYSE:ALBGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company’s revenue was up 36.0% on a year-over-year basis. Sell-side analysts predict that Albemarle Co. will post 13.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, June 9th. Albemarle’s dividend payout ratio is currently 66.39%.

A number of research firms recently commented on ALB. KeyCorp upped their price objective on Albemarle from $215.00 to $217.00 and gave the company an “underweight” rating in a report on Tuesday, May 24th. Mizuho upped their price objective on Albemarle from $243.00 to $293.00 in a report on Friday, May 6th. Cowen upped their price objective on Albemarle from $275.00 to $300.00 in a report on Friday, May 6th. UBS Group cut Albemarle from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $300.00 to $260.00 in a report on Thursday, June 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $290.00 price objective on shares of Albemarle in a report on Monday, May 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $273.15.

Albemarle Company Profile (Get Rating)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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