Sawtooth Solutions LLC reduced its holdings in shares of Albemarle Co. (NYSE:ALB) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,998 shares of the specialty chemicals company’s stock after selling 1,210 shares during the quarter. Sawtooth Solutions LLC’s holdings in Albemarle were worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Stanley Laman Group Ltd. increased its holdings in Albemarle by 6.3% in the 1st quarter. Stanley Laman Group Ltd. now owns 5,854 shares of the specialty chemicals company’s stock worth $480,000 after purchasing an additional 348 shares in the last quarter. Swiss National Bank increased its holdings in Albemarle by 0.5% in the 1st quarter. Swiss National Bank now owns 354,906 shares of the specialty chemicals company’s stock worth $29,095,000 after purchasing an additional 1,900 shares in the last quarter. Norinchukin Bank The increased its holdings in Albemarle by 3.1% in the 1st quarter. Norinchukin Bank The now owns 20,053 shares of the specialty chemicals company’s stock worth $1,644,000 after purchasing an additional 597 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Albemarle by 17.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,623 shares of the specialty chemicals company’s stock worth $297,000 after purchasing an additional 527 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Albemarle by 22.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,489,687 shares of the specialty chemicals company’s stock worth $122,120,000 after purchasing an additional 271,061 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

ALB has been the subject of several recent research reports. reissued a “buy” rating and issued a $157.00 price target on shares of Albemarle in a research note on Thursday, February 14th. Loop Capital increased their price target on Albemarle from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. ValuEngine raised Albemarle from a “strong sell” rating to a “sell” rating in a research note on Friday, February 22nd. Deutsche Bank increased their price target on Albemarle from $84.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 25th. Finally, Buckingham Research decreased their price target on Albemarle from $100.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, March 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $98.98.

Shares of Albemarle stock traded down $0.69 on Wednesday, hitting $72.74. 26,736 shares of the company’s stock traded hands, compared to its average volume of 1,516,790. Albemarle Co. has a one year low of $63.10 and a one year high of $108.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.96. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.72 and a beta of 1.61.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.21 by $0.02. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The company had revenue of $832.06 million for the quarter, compared to analyst estimates of $827.94 million. During the same quarter in the prior year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Albemarle Co. will post 6.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.47 annualized dividend and a yield of 2.02%. Albemarle’s payout ratio is currently 26.82%.

In other news, SVP Deeanne J. Marlow purchased 1,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the acquisition, the senior vice president now owns 1,000 shares in the company, valued at $70,850. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

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Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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