Leavell Investment Management Inc. Decreases Position in Albemarle Co. (ALB)

Leavell Investment Management Inc. trimmed its position in shares of Albemarle Co. (NYSE:ALB) by 2.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 37,996 shares of the specialty chemicals company’s stock after selling 850 shares during the quarter. Leavell Investment Management Inc.’s holdings in Albemarle were worth $3,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC raised its holdings in shares of Albemarle by 29.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 801 shares in the last quarter. Scout Investments Inc. increased its stake in Albemarle by 4.3% in the 1st quarter. Scout Investments Inc. now owns 244,329 shares of the specialty chemicals company’s stock worth $20,030,000 after purchasing an additional 10,113 shares during the period. Landsberg Bennett & Dubbaneh LLC increased its stake in Albemarle by 57.7% in the 1st quarter. Landsberg Bennett & Dubbaneh LLC now owns 4,152 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 1,519 shares during the period. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Albemarle in the 1st quarter worth approximately $508,000. Finally, Chartwell Investment Partners LLC increased its stake in Albemarle by 5.6% in the 1st quarter. Chartwell Investment Partners LLC now owns 21,197 shares of the specialty chemicals company’s stock worth $1,738,000 after purchasing an additional 1,130 shares during the period. 94.08% of the stock is currently owned by institutional investors.

Shares of ALB stock traded up $0.27 during trading hours on Tuesday, reaching $82.53. The company’s stock had a trading volume of 874,672 shares, compared to its average volume of 1,228,456. The firm has a market cap of $8.74 billion, a P/E ratio of 15.06, a P/E/G ratio of 0.90 and a beta of 1.64. Albemarle Co. has a one year low of $71.89 and a one year high of $108.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 1.69.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.07. The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $894.45 million. Albemarle had a return on equity of 15.82% and a net margin of 20.55%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.34 EPS. As a group, equities analysts predict that Albemarle Co. will post 6.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.3675 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Thursday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently 26.82%.

In related news, CFO Scott Tozier sold 2,961 shares of Albemarle stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $269,451.00. Following the sale, the chief financial officer now directly owns 49,672 shares in the company, valued at $4,520,152. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karen G. Narwold sold 1,243 shares of Albemarle stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $91.00, for a total value of $113,113.00. Following the sale, the executive vice president now owns 34,757 shares in the company, valued at $3,162,887. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

ALB has been the topic of a number of analyst reports. Nomura cut Albemarle from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $85.00 in a research note on Tuesday, January 15th. Loop Capital decreased their price target on Albemarle to $112.00 and set a “buy” rating on the stock in a research note on Friday, January 18th. They noted that the move was a valuation call. Citigroup cut Albemarle from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $81.00 in a research note on Tuesday, February 5th. Berenberg Bank cut Albemarle from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $78.11 in a research note on Thursday, January 3rd. Finally, ValuEngine cut Albemarle from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $100.85.

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About Albemarle

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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