Crossmark Global Holdings Inc. Sells 483 Shares of Albemarle Co. (NYSE:ALB)

Crossmark Global Holdings Inc. reduced its holdings in shares of Albemarle Co. (NYSE:ALBFree Report) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,329 shares of the specialty chemicals company’s stock after selling 483 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Albemarle were worth $770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. USCF Advisers LLC boosted its holdings in shares of Albemarle by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Arlington Trust Co LLC purchased a new position in Albemarle in the fourth quarter valued at about $30,000. Tyler Stone Wealth Management bought a new position in shares of Albemarle during the 3rd quarter valued at approximately $35,000. Jones Financial Companies Lllp increased its stake in shares of Albemarle by 2,942.9% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 206 shares during the last quarter. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of Albemarle by 21,400.0% in 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 during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Mark Richard Mummert sold 843 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the sale, the senior vice president now owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of Albemarle 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 approximately $626,882.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Richard Mummert sold 843 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the sale, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Albemarle Stock Performance

NYSE ALB opened at $114.07 on Tuesday. The company has a market capitalization of $13.41 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.88 and a beta of 1.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. Albemarle Co. has a 52-week low of $106.69 and a 52-week high of $247.44. The company has a fifty day moving average of $123.63 and a 200-day moving average of $125.79.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The company’s revenue for the quarter was down 47.3% on a year-over-year basis. During the same period last year, the firm earned $10.32 EPS. As a group, equities research analysts predict that Albemarle Co. will post 2.49 EPS for the current fiscal year.

Albemarle Announces Dividend

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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, June 14th. Albemarle’s payout ratio is currently 58.18%.

Analyst Ratings Changes

A number of research firms have issued reports on ALB. Bank of America raised Albemarle from a “neutral” rating to a “buy” rating and raised their target price for the stock from $137.00 to $156.00 in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Loop Capital cut their target price on shares of Albemarle from $168.00 to $162.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $157.00 price target on shares of Albemarle in a research report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Albemarle from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $165.16.

Read Our Latest Stock Analysis on ALB

Albemarle 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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