Dana Investment Advisors Inc. lowered its stake in shares of Albemarle Co. (NYSE:ALB) by 91.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,705 shares of the specialty chemicals company’s stock after selling 120,991 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Albemarle were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in Albemarle by 15.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,084 shares of the specialty chemicals company’s stock valued at $431,000 after buying an additional 538 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Albemarle by 0.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 496,880 shares of the specialty chemicals company’s stock worth $52,441,000 after purchasing an additional 1,504 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Albemarle by 27.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,512 shares of the specialty chemicals company’s stock worth $1,056,000 after purchasing an additional 2,029 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Albemarle by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 212,178 shares of the specialty chemicals company’s stock worth $22,393,000 after purchasing an additional 4,878 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Albemarle by 54.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 7,766 shares of the specialty chemicals company’s stock worth $820,000 after purchasing an additional 2,739 shares during the last quarter. 88.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of Albemarle Co. (NYSE:ALB) opened at $127.58 on Friday. Albemarle Co. has a twelve month low of $85.60 and a twelve month high of $144.99. The stock has a market capitalization of $14,375.48, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.69. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. During the same quarter last year, the firm earned $0.91 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. equities research analysts expect that Albemarle Co. will post 4.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle’s payout ratio is currently 16.56%.

Several equities research analysts have recently weighed in on ALB shares. Oppenheimer upped their target price on shares of Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Deutsche Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. BMO Capital Markets started coverage on shares of Albemarle in a research report on Tuesday, October 24th. They set an “outperform” rating and a $160.00 price target on the stock. Nomura upped their price target on shares of Albemarle to $159.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a research report on Tuesday, October 17th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Albemarle has a consensus rating of “Buy” and an average target price of $128.45.

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Albemarle Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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