U.S. Capital Wealth Advisors LLC Decreases Stock Holdings in Albemarle Co. (NYSE:ALB)

U.S. Capital Wealth Advisors LLC trimmed its position in shares of Albemarle Co. (NYSE:ALBGet Rating) by 56.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,072 shares of the specialty chemicals company’s stock after selling 2,700 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Albemarle were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ALB. Fairfield Bush & CO. raised its holdings in shares of Albemarle by 15.0% during the 1st quarter. Fairfield Bush & CO. now owns 5,565 shares of the specialty chemicals company’s stock worth $1,231,000 after acquiring an additional 725 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Albemarle by 17.5% during the 1st 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 in the last quarter. Synovus Financial Corp raised its holdings in shares of Albemarle by 186.4% during the 1st 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 in the last quarter. Cibc World Market Inc. raised its holdings 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 buying an additional 418 shares during the period. Finally, Blair William & Co. IL raised its holdings 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 buying an additional 286 shares during the period. 82.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Albemarle news, insider Eric Norris sold 2,390 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $307.80, for a total value of $735,642.00. Following the completion of the sale, the insider now owns 15,564 shares of the company’s stock, valued at $4,790,599.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Scott Tozier sold 1,719 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was 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 directly owns 63,384 shares in the company, valued at $13,944,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Norris sold 2,390 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $307.80, for a total value of $735,642.00. Following the completion of the transaction, the insider now owns 15,564 shares of the company’s stock, valued at $4,790,599.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,681 shares of company stock valued at $5,310,662. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALB shares. Bank of America increased their price target on Albemarle from $262.00 to $332.00 and gave the company a “neutral” rating in a report on Monday, October 3rd. Credit Suisse Group increased their price target on Albemarle from $196.00 to $200.00 and gave the company an “underperform” rating in a report on Thursday, November 3rd. Berenberg Bank lowered Albemarle from a “buy” rating to a “hold” rating and increased their price target for the company from $260.00 to $270.00 in a report on Thursday, October 13th. Royal Bank of Canada increased their target price on Albemarle from $371.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 8th. Finally, StockNews.com initiated coverage on Albemarle in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $287.47.

Albemarle Price Performance

Shares of ALB stock opened at $242.23 on Tuesday. Albemarle Co. has a 1-year low of $169.93 and a 1-year high of $334.55. The stock’s 50-day moving average is $255.56 and its 200 day moving average is $257.40. The company has a market cap of $28.38 billion, a P/E ratio of 18.36, a PEG ratio of 0.55 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.08.

Albemarle (NYSE:ALBGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The specialty chemicals company reported $7.50 earnings per share for the quarter, beating analysts’ consensus estimates of $6.84 by $0.66. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.21 billion. Albemarle had a return on equity of 26.84% and a net margin of 27.77%. The firm’s revenue for the quarter was up 151.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. Research analysts predict that Albemarle Co. will post 21.02 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, December 15th. Albemarle’s dividend payout ratio is presently 11.98%.

About Albemarle

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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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