HM Payson & Co. Sells 1,050 Shares of Albemarle Co. (NYSE:ALB)

HM Payson & Co. lessened its position in shares of Albemarle Co. (NYSE:ALB) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,730 shares of the specialty chemicals company’s stock after selling 1,050 shares during the period. HM Payson & Co.’s holdings in Albemarle were worth $623,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. WFA Asset Management Corp bought a new position in shares of Albemarle in the 1st quarter valued at about $25,000. USCF Advisers LLC lifted its position in Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in Albemarle during the fourth quarter worth approximately $30,000. Jones Financial Companies Lllp raised its position in shares of Albemarle by 2,942.9% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Albemarle in the fourth quarter valued at approximately $33,000. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $132.17, for a total value of $194,950.75. Following the transaction, the chief accounting officer now owns 4,743 shares in the company, valued at $626,882.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the transaction, the senior vice president now owns 6,802 shares in the company, valued at $921,875.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares in the company, valued at approximately $626,882.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Albemarle from $125.00 to $140.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Bank of America decreased their target price on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday. Hsbc Global Res raised shares of Albemarle to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company cut shares of Albemarle from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $145.00 to $100.00 in a research note on Thursday, July 11th. Finally, HSBC lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.79.

Albemarle Price Performance

NYSE:ALB traded down $6.18 during trading hours on Friday, hitting $86.99. The stock had a trading volume of 5,807,206 shares, compared to its average volume of 2,879,290. The company has a 50 day simple moving average of $102.11 and a two-hundred day simple moving average of $115.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.91. Albemarle Co. has a one year low of $82.25 and a one year high of $214.99. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 3.48 and a beta of 1.57.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.49). Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $7.33 earnings per share. The firm’s revenue for the quarter was down 39.7% on a year-over-year basis. Research analysts forecast that Albemarle Co. will post 1.67 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, September 13th. This is a boost from Albemarle’s previous quarterly dividend of $0.40. Albemarle’s dividend payout ratio (DPR) is presently 58.91%.

About Albemarle

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.