Blackhawk Capital Partners LLC. Increases Holdings in Albemarle Co. (NYSE:ALB)

Blackhawk Capital Partners LLC. raised its holdings in shares of Albemarle Co. (NYSE:ALB) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,915 shares of the specialty chemicals company’s stock after buying an additional 2,427 shares during the quarter. Albemarle comprises about 1.8% of Blackhawk Capital Partners LLC.’s holdings, making the stock its 13th largest position. Blackhawk Capital Partners LLC.’s holdings in Albemarle were worth $2,887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new position in Albemarle during the first quarter worth about $25,000. USCF Advisers LLC lifted its stake 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 purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC bought a new stake in Albemarle during the fourth quarter worth about $30,000. Jones Financial Companies Lllp lifted its stake in Albemarle by 2,942.9% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 206 shares during the last quarter. Finally, VisionPoint Advisory Group LLC lifted its stake in Albemarle by 21,400.0% during the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 214 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Trading Down 1.7 %

NYSE:ALB traded down $1.74 during mid-day trading on Friday, reaching $98.35. 2,229,817 shares of the company’s stock traded hands, compared to its average volume of 3,221,296. Albemarle Co. has a 12-month low of $92.29 and a 12-month high of $247.44. The company has a 50 day moving average price of $115.89 and a 200-day moving average price of $122.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.02 and a beta of 1.57.

Albemarle (NYSE:ALB) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $10.32 EPS. The firm’s revenue was down 47.3% on a year-over-year basis. On average, sell-side analysts predict that Albemarle Co. will post 2.07 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.63%. Albemarle’s dividend payout ratio (DPR) is 58.18%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Vertical Research lowered Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a research note on Friday, March 8th. Citigroup lifted their price target on Albemarle from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Loop Capital dropped 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. Scotiabank reaffirmed a “sector perform” rating and set a $135.00 price target (down previously from $150.00) on shares of Albemarle in a research note on Tuesday, May 21st. Finally, Piper Sandler lowered their target price on Albemarle from $122.00 to $95.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Albemarle has an average rating of “Hold” and an average price target of $155.78.

Insiders Place Their Bets

In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of the company’s stock in a transaction that occurred on 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 owns 6,802 shares in the company, valued at approximately $921,875.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Mark Richard Mummert sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total value of $114,251.79. Following the sale, 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 Securities & Exchange Commission, which is accessible through this link. Also, CAO John Clarence Barichivich III sold 1,475 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the sale, 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. Company insiders own 0.38% of the company’s stock.

Albemarle Company 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.