Tandem Capital Management Corp ADV Sells 5,676 Shares of Albemarle Co. (NYSE:ALB)

Tandem Capital Management Corp ADV decreased its position in shares of Albemarle Co. (NYSE:ALB) by 67.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,685 shares of the specialty chemicals company’s stock after selling 5,676 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Albemarle were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Eagle Bay Advisors LLC boosted its stake in Albemarle by 45.0% during the 1st quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 103 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Albemarle by 4.6% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,655 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 116 shares in the last quarter. Foster Group Inc. increased its stake in Albemarle by 4.1% in the 2nd quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 120 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Albemarle by 3.3% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,309 shares of the specialty chemicals company’s stock worth $568,000 after buying an additional 137 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of Albemarle by 3.5% in the 1st quarter. Empirical Finance LLC now owns 4,186 shares of the specialty chemicals company’s stock worth $551,000 after buying an additional 143 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Price Performance

Albemarle stock traded up $0.40 during midday trading on Friday, reaching $95.55. 134,212 shares of the stock were exchanged, compared to its average volume of 2,993,097. The company’s fifty day moving average is $91.07 and its 200-day moving average is $102.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67. Albemarle Co. has a 52 week low of $71.97 and a 52 week high of $153.54. The firm has a market cap of $11.23 billion, a PE ratio of 34.61, a PEG ratio of 13.81 and a beta of 1.54.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.49). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The company’s revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period in the previous year, the company posted $7.33 EPS. On average, sell-side analysts forecast that Albemarle Co. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Berenberg Bank downgraded Albemarle from a “buy” rating to a “hold” rating and decreased their price target for the company from $160.00 to $83.00 in a research report on Wednesday, July 31st. Royal Bank of Canada decreased their target price on Albemarle from $128.00 to $111.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Bank of America cut their price target on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company raised their price objective on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Baird R W cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.30.

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.