Charter Research & Investment Group Inc. grew its position in Albemarle Co. (NYSE:ALB) by 492.2% in the fourth quarter, Holdings Channel reports. The fund owned 20,815 shares of the specialty chemicals company’s stock after buying an additional 17,300 shares during the period. Albemarle makes up approximately 2.0% of Charter Research & Investment Group Inc.’s investment portfolio, making the stock its 15th largest position. Charter Research & Investment Group Inc.’s holdings in Albemarle were worth $1,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALB. Rehmann Capital Advisory Group boosted its position in Albemarle by 3,087.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 247 shares during the period. Proficio Capital Partners LLC boosted its position in Albemarle by 143.1% during the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 206 shares during the period. First Quadrant L P CA acquired a new position in Albemarle during the 4th quarter valued at approximately $31,000. Private Capital Group LLC boosted its position in Albemarle by 332.7% during the 4th quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 326 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Albemarle during the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Shares of ALB stock opened at $84.73 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.69 and a debt-to-equity ratio of 0.37. Albemarle Co. has a 1 year low of $71.89 and a 1 year high of $108.74. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.91 and a beta of 1.66.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.07. Albemarle had a return on equity of 15.82% and a net margin of 20.55%. The company had revenue of $921.70 million during the quarter, compared to analyst estimates of $894.45 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts expect that Albemarle Co. will post 6.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.3675 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, March 14th. This represents a $1.47 annualized dividend and a dividend yield of 1.73%. Albemarle’s dividend payout ratio is 24.45%.

A number of research firms recently issued reports on ALB. Zacks Investment Research lowered Albemarle from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. restated a “buy” rating and set a $157.00 price objective on shares of Albemarle in a research report on Thursday, February 14th. KeyCorp restated an “overweight” rating and set a $120.00 price objective (down previously from $140.00) on shares of Albemarle in a research report on Tuesday, December 18th. Citigroup lowered Albemarle from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $81.00 in a research report on Tuesday, February 5th. Finally, ValuEngine lowered Albemarle from a “hold” rating to a “sell” rating in a research report on Monday, December 17th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $104.68.

In other news, EVP Karen G. Narwold sold 1,243 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $91.00, for a total value of $113,113.00. Following the completion of the sale, the executive vice president now owns 34,757 shares in the company, valued at $3,162,887. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Karen G. Narwold sold 1,295 shares of the company’s stock in a transaction on Friday, January 4th. The shares were sold at an average price of $74.76, for a total value of $96,814.20. Following the completion of the sale, the executive vice president now owns 31,028 shares of the company’s stock, valued at approximately $2,319,653.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,842 shares of company stock valued at $728,599. Insiders own 0.80% of the company’s stock.

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Albemarle Company Profile

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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