Mastrapasqua Asset Management Inc. Purchases Shares of 48,253 Albemarle Co. (ALB)

Mastrapasqua Asset Management Inc. bought a new position in shares of Albemarle Co. (NYSE:ALB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 48,253 shares of the specialty chemicals company’s stock, valued at approximately $6,578,000. Albemarle makes up approximately 1.4% of Mastrapasqua Asset Management Inc.’s portfolio, making the stock its 28th largest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. boosted its position in shares of Albemarle by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 650 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Albemarle by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 20 shares during the period. Highlander Capital Management LLC bought a new stake in Albemarle during the second quarter valued at about $106,000. Smithfield Trust Co. lifted its stake in shares of Albemarle by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares during the period. Finally, Howe & Rusling Inc. lifted its stake in shares of Albemarle by 2,038.0% in the third quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock valued at $146,000 after buying an additional 1,019 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Shares of Albemarle Co. (ALB) opened at $129.08 on Friday. Albemarle Co. has a 1-year low of $85.60 and a 1-year high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The stock has a market cap of $14,085.98, a PE ratio of 31.55, a P/E/G ratio of 1.93 and a beta of 1.69.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. analysts forecast that Albemarle Co. will post 4.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. Albemarle’s dividend payout ratio (DPR) is currently 16.56%.

Several equities research analysts recently weighed in on the stock. Jefferies Group increased their target price on shares of Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Deutsche Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Robert W. Baird reissued a “hold” rating and issued a $135.00 price target on shares of Albemarle in a report on Wednesday, November 1st. Royal Bank Of Canada raised their price target on shares of Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Nomura lifted their price target on shares of Albemarle to $159.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Albemarle presently has a consensus rating of “Buy” and a consensus target price of $128.45.

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Albemarle Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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