Brown Advisory Inc. Boosts Stake in Albemarle Co. (ALB)

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Brown Advisory Inc. raised its stake in Albemarle Co. (NYSE:ALB) by 272.2% in the second quarter, Holdings Channel reports. The fund owned 23,454 shares of the specialty chemicals company’s stock after purchasing an additional 17,152 shares during the quarter. Brown Advisory Inc.’s holdings in Albemarle were worth $2,213,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dupont Capital Management Corp lifted its holdings in shares of Albemarle by 81.6% in the first quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 610 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its stake in shares of Albemarle by 145.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,669 shares of the specialty chemicals company’s stock valued at $155,000 after buying an additional 989 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of Albemarle by 145.9% in the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 1,004 shares during the period. Tiverton Asset Management LLC increased its stake in shares of Albemarle by 53.5% in the first quarter. Tiverton Asset Management LLC now owns 1,997 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 696 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Albemarle in the second quarter valued at approximately $212,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on ALB shares. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Wednesday, May 30th. Nomura lowered their price objective on Albemarle to $130.00 and set a “buy” rating for the company in a research note on Friday, May 11th. Goldman Sachs Group raised Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, July 3rd. Bank of America started coverage on Albemarle in a research note on Monday, June 25th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Vertical Research raised Albemarle from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $131.97.

NYSE:ALB opened at $97.19 on Friday. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.27 and a beta of 1.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55. Albemarle Co. has a fifty-two week low of $86.75 and a fifty-two week high of $144.99.

Albemarle (NYSE:ALB) last released its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $853.87 million during the quarter, compared to the consensus estimate of $799.49 million. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. sell-side analysts expect that Albemarle Co. will post 5.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, September 13th. Albemarle’s dividend payout ratio is presently 29.19%.

In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total transaction of $301,041.00. Following the completion of the sale, the executive vice president now owns 30,242 shares of the company’s stock, valued at approximately $2,936,800.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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