Wakefield Asset Management LLLP Purchases New Holdings in Albemarle Co. (NYSE:ALB)

Wakefield Asset Management LLLP purchased a new position in shares of Albemarle Co. (NYSE:ALB – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,285 shares of the specialty chemicals company’s stock, valued at approximately $2,456,000. Albemarle comprises approximately 1.1% of Wakefield Asset Management LLLP’s portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fairfield Bush & CO. lifted its holdings in Albemarle by 15.0% during the 1st quarter. Fairfield Bush & CO. now owns 5,565 shares of the specialty chemicals company’s stock valued at $1,231,000 after buying an additional 725 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Albemarle by 17.5% in the first quarter. Raymond James Trust N.A. now owns 4,377 shares of the specialty chemicals company’s stock worth $968,000 after acquiring an additional 651 shares during the period. Synovus Financial Corp lifted its stake in Albemarle by 186.4% in the first quarter. Synovus Financial Corp now owns 2,898 shares of the specialty chemicals company’s stock worth $635,000 after acquiring an additional 1,886 shares during the period. Cibc World Market Inc. increased its position in Albemarle by 5.0% during the 1st quarter. Cibc World Market Inc. now owns 8,785 shares of the specialty chemicals company’s stock valued at $1,943,000 after purchasing an additional 418 shares during the period. Finally, Blair William & Co. IL increased its position in Albemarle by 8.0% during the 1st quarter. Blair William & Co. IL now owns 3,859 shares of the specialty chemicals company’s stock valued at $853,000 after purchasing an additional 286 shares during the period. 82.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Albemarle from $345.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and raised their target price for the company from $260.00 to $270.00 in a research note on Thursday, October 13th. Robert W. Baird upped their price target on Albemarle from $298.00 to $305.00 in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price objective on shares of Albemarle in a research report on Friday, September 30th. Finally, StockNews.com assumed coverage on Albemarle in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and an average target price of $293.58.

Insider Activity at Albemarle

In other Albemarle news, CFO Scott Tozier sold 1,719 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $220.00, for a total value of $378,180.00. Following the completion of the transaction, the chief financial officer now owns 63,384 shares in the company, valued at $13,944,480. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Albemarle news, EVP Karen G. Narwold sold 2,250 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $280.25, for a total transaction of $630,562.50. Following the completion of the transaction, the executive vice president now directly owns 6,257 shares in the company, valued at $1,753,524.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott Tozier sold 1,719 shares of Albemarle stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $220.00, for a total transaction of $378,180.00. Following the completion of the sale, the chief financial officer now owns 63,384 shares in the company, valued at approximately $13,944,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,681 shares of company stock worth $5,310,662. 0.25% of the stock is owned by company insiders.

Albemarle Stock Performance

Albemarle stock traded down $0.98 during midday trading on Wednesday, hitting $263.61. 81,288 shares of the company were exchanged, compared to its average volume of 1,454,349. Albemarle Co. has a fifty-two week low of $169.93 and a fifty-two week high of $334.55. The firm has a market capitalization of $30.88 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 0.60 and a beta of 1.45. The business has a fifty day simple moving average of $248.26 and a two-hundred day simple moving average of $259.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.73.

Albemarle (NYSE:ALB – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The specialty chemicals company reported $7.50 EPS for the quarter, topping analysts’ consensus estimates of $6.84 by $0.66. Albemarle had a net margin of 27.77% and a return on equity of 26.84%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the company earned $1.05 EPS. The business’s revenue was up 151.9% on a year-over-year basis. On average, sell-side analysts forecast that Albemarle Co. will post 20.95 earnings per share for the current year.

About Albemarle

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Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine, Catalysts, and All Other.