Hahn Capital Management LLC lowered its stake in shares of Albemarle Co. (NYSE:ALB) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,085 shares of the specialty chemicals company’s stock after selling 6,531 shares during the quarter. Albemarle makes up approximately 3.1% of Hahn Capital Management LLC’s portfolio, making the stock its 19th largest holding. Hahn Capital Management LLC owned about 0.23% of Albemarle worth $32,495,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cushing Asset Management LP bought a new position in Albemarle during the fourth quarter valued at about $6,097,000. Sciencast Management LP bought a new position in Albemarle during the fourth quarter worth about $458,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Albemarle by 5.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,557 shares of the specialty chemicals company’s stock worth $2,374,000 after purchasing an additional 1,018 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in Albemarle by 9.1% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 20,775 shares of the specialty chemicals company’s stock worth $2,656,000 after purchasing an additional 1,733 shares during the period. Finally, Elkfork Partners LLC bought a new position in Albemarle during the fourth quarter worth about $681,000. Institutional investors own 86.38% of the company’s stock.
ALB has been the subject of a number of research reports. Argus cut their target price on shares of Albemarle from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, March 27th. Citigroup cut their target price on shares of Albemarle from $148.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, March 1st. Berenberg Bank initiated coverage on shares of Albemarle in a research report on Tuesday, February 27th. They set a “buy” rating and a $150.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $130.00 target price (down previously from $160.00) on shares of Albemarle in a research report on Friday, March 2nd. Finally, Seaport Global Securities reiterated a “hold” rating and set a $130.00 target price on shares of Albemarle in a research report on Monday, February 5th. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $127.02.
ALB stock opened at $91.80 on Friday. The company has a market capitalization of $10,595.84, a PE ratio of 20.82, a PEG ratio of 1.14 and a beta of 1.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.06 and a quick ratio of 1.57. Albemarle Co. has a 12 month low of $86.75 and a 12 month high of $144.99.
Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.13. The business had revenue of $857.79 million for the quarter, compared to the consensus estimate of $791.46 million. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. equities research analysts predict that Albemarle Co. will post 5.15 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a $0.335 dividend. This is an increase from Albemarle’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Wednesday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.
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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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