Grandfield & Dodd LLC Has $24.79 Million Stock Position in Albemarle Co. (NYSE:ALB)

Grandfield & Dodd LLC boosted its holdings in shares of Albemarle Co. (NYSE:ALB) by 17.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 171,546 shares of the specialty chemicals company’s stock after buying an additional 25,221 shares during the period. Albemarle makes up approximately 1.7% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 21st largest position. Grandfield & Dodd LLC’s holdings in Albemarle were worth $24,785,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ALB. Assetmark Inc. acquired a new position in Albemarle during the third quarter valued at $25,000. Covestor Ltd increased its position in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Albemarle in the 4th quarter worth about $30,000. City State Bank increased its position in Albemarle by 60.0% in the 3rd quarter. City State Bank now owns 200 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 75 shares during the last quarter. Finally, Tyler Stone Wealth Management acquired a new position in Albemarle in the 3rd quarter worth about $35,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB stock traded up $0.35 during mid-day trading on Friday, reaching $112.15. The stock had a trading volume of 1,976,050 shares, compared to its average volume of 2,648,784. The firm’s 50 day simple moving average is $123.05 and its 200 day simple moving average is $129.47. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. Albemarle Co. has a one year low of $106.69 and a one year high of $247.44. The firm has a market cap of $13.18 billion, a PE ratio of 8.41, a P/E/G ratio of 2.26 and a beta of 1.62.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.86. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company earned $8.62 EPS. The company’s quarterly revenue was down 10.1% on a year-over-year basis. On average, analysts forecast that Albemarle Co. will post 3.09 EPS for the current year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.40 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. Albemarle’s dividend payout ratio is currently 11.99%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALB shares. Mizuho dropped their target price on Albemarle from $115.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Wells Fargo & Company upped their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. KeyCorp dropped their target price on Albemarle from $178.00 to $159.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Loop Capital decreased their price target on Albemarle from $168.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Oppenheimer decreased their price target on Albemarle from $191.00 to $188.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and a consensus target price of $175.05.

Albemarle Profile

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.