CVA Family Office LLC Has $27,000 Stake in Albemarle Co. (NYSE:ALB)

CVA Family Office LLC grew its position in Albemarle Co. (NYSE:ALB) by 610.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284 shares of the specialty chemicals company’s stock after purchasing an additional 244 shares during the period. CVA Family Office LLC’s holdings in Albemarle were worth $27,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in Albemarle by 0.7% during the fourth quarter. Arizona State Retirement System now owns 32,252 shares of the specialty chemicals company’s stock worth $4,660,000 after purchasing an additional 240 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in Albemarle by 23.2% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 3,078 shares of the specialty chemicals company’s stock valued at $445,000 after acquiring an additional 580 shares during the period. Venture Visionary Partners LLC boosted its holdings in shares of Albemarle by 10.2% during the fourth quarter. Venture Visionary Partners LLC now owns 4,322 shares of the specialty chemicals company’s stock worth $624,000 after acquiring an additional 400 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Albemarle by 60.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 60,931 shares of the specialty chemicals company’s stock valued at $9,098,000 after purchasing an additional 22,941 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of Albemarle during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

ALB has been the topic of a number of research reports. Scotiabank decreased their price objective on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday. UBS Group dropped their price objective on shares of Albemarle from $124.00 to $109.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. KeyCorp decreased their target price on shares of Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a research report on Monday. Oppenheimer dropped their price target on shares of Albemarle from $188.00 to $178.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada reduced their price target on Albemarle from $128.00 to $111.00 and set an “outperform” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $128.37.

Albemarle Price Performance

Shares of NYSE ALB traded down $0.46 during midday trading on Wednesday, reaching $79.07. 3,365,223 shares of the company were exchanged, compared to its average volume of 3,094,390. The stock’s 50-day moving average price is $99.38 and its 200-day moving average price is $114.66. The stock has a market cap of $9.29 billion, a P/E ratio of 28.75, a PEG ratio of 3.48 and a beta of 1.57. The company has a quick ratio of 1.91, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. Albemarle Co. has a one year low of $79.00 and a one year high of $203.62.

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

Albemarle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.405 dividend. This is a boost from Albemarle’s previous quarterly dividend of $0.40. This represents a $1.62 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, September 13th. Albemarle’s dividend payout ratio is 58.91%.

Insider Activity

In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total transaction of $114,251.79. Following the transaction, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the transaction, the senior vice president now owns 6,802 shares in the company, valued at approximately $921,875.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO John Clarence Barichivich III sold 1,475 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 4,743 shares in the company, valued at $626,882.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.