Meyer Handelman Co. trimmed its stake in shares of Albemarle Co. (NYSE:ALB) by 23.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,300 shares of the specialty chemicals company’s stock after selling 1,588 shares during the quarter. Meyer Handelman Co.’s holdings in Albemarle were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC raised its position in shares of Albemarle by 25.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 3,345 shares of the specialty chemicals company’s stock worth $337,000 after buying an additional 679 shares in the last quarter. Dividend Assets Capital LLC raised its holdings in shares of Albemarle by 2.1% in the 3rd quarter. Dividend Assets Capital LLC now owns 29,187 shares of the specialty chemicals company’s stock worth $2,912,000 after purchasing an additional 611 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Albemarle by 13.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,412 shares of the specialty chemicals company’s stock worth $1,737,000 after purchasing an additional 2,023 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Albemarle by 8.7% in 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 purchasing an additional 3,021 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Albemarle in the 3rd quarter worth approximately $1,128,000. Institutional investors own 90.99% of the company’s stock.

ALB has been the topic of a number of research reports. Vertical Group initiated coverage on shares of Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 target price on the stock. ValuEngine upgraded shares of Albemarle from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Vertical Research initiated coverage on shares of Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 target price on the stock. Loop Capital set a $130.00 target price on shares of Albemarle and gave the stock a “buy” rating in a report on Friday, October 19th. Finally, Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Albemarle currently has a consensus rating of “Buy” and a consensus target price of $123.50.

Albemarle stock opened at $102.38 on Friday. The company has a market capitalization of $11.71 billion, a PE ratio of 22.31, a PEG ratio of 1.41 and a beta of 1.53. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37. Albemarle Co. has a fifty-two week low of $86.75 and a fifty-two week high of $143.66.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, December 13th. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.

In other news, EVP Karen G. Narwold sold 3,100 shares of Albemarle stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total value of $301,041.00. Following the transaction, the executive vice president now directly owns 30,242 shares of the company’s stock, valued at $2,936,800.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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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