Victory Capital Management Inc. Has $6.70 Million Position in Albemarle Co. (NYSE:ALB)

Victory Capital Management Inc. lessened its holdings in Albemarle Co. (NYSE:ALBFree Report) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,398 shares of the specialty chemicals company’s stock after selling 4,061 shares during the period. Victory Capital Management Inc.’s holdings in Albemarle were worth $6,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in Albemarle in the 3rd quarter valued at $25,000. USCF Advisers LLC grew its holdings in Albemarle by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Arlington Trust Co LLC acquired a new position in Albemarle in the 4th quarter valued at $30,000. Tyler Stone Wealth Management acquired a new position in Albemarle in the 3rd quarter valued at $35,000. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of Albemarle by 21,400.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Albemarle

In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the transaction, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at $626,882.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.38% of the company’s stock.

Albemarle Price Performance

Albemarle stock opened at $135.46 on Wednesday. The stock’s 50 day moving average is $123.61 and its 200 day moving average is $125.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. The firm has a market cap of $15.92 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.56 and a beta of 1.65. Albemarle Co. has a one year low of $106.69 and a one year high of $247.44.

Albemarle (NYSE:ALBGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. Albemarle’s revenue was down 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.32 earnings per share. As a group, research analysts expect that Albemarle Co. will post 3.17 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, June 14th. Albemarle’s dividend payout ratio (DPR) is presently 58.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALB shares. Oppenheimer reduced their target price on Albemarle from $191.00 to $188.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Mizuho increased their target price on Albemarle from $112.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Wells Fargo & Company increased their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Berenberg Bank raised Albemarle from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $160.00 in a report on Thursday, April 11th. Finally, UBS Group reduced their target price on Albemarle from $137.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $172.05.

Check Out Our Latest Research Report on ALB

Albemarle Company Profile

(Free Report)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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