Albemarle (NYSE:ALB) CEO J Kent Masters Sells 16,393 Shares

Albemarle Corporation (NYSE:ALBGet Free Report) CEO J Kent Masters sold 16,393 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This trade represents a 15.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

J Kent Masters also recently made the following trade(s):

  • On Tuesday, March 10th, J Kent Masters sold 11,783 shares of Albemarle stock. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23.

Albemarle Price Performance

Shares of NYSE:ALB traded down $6.92 during midday trading on Tuesday, reaching $168.82. 2,086,310 shares of the company’s stock traded hands, compared to its average volume of 2,569,425. Albemarle Corporation has a 1 year low of $53.70 and a 1 year high of $221.00. The company has a market cap of $19.91 billion, a P/E ratio of -49.51, a PEG ratio of 0.91 and a beta of 1.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The company has a fifty day simple moving average of $182.25 and a two-hundred day simple moving average of $159.28.

Albemarle (NYSE:ALBGet Free Report) last announced its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted ($0.18) EPS. The business’s revenue was up 32.7% on a year-over-year basis. Equities analysts predict that Albemarle Corporation will post 12.45 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Albemarle’s dividend payout ratio (DPR) is -47.51%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strategic Advocates LLC purchased a new position in shares of Albemarle during the 3rd quarter worth $25,000. MH & Associates Securities Management Corp ADV purchased a new position in shares of Albemarle during the 4th quarter worth $26,000. BOKF NA raised its holdings in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 404 shares during the period. Elyxium Wealth LLC purchased a new position in shares of Albemarle during the 4th quarter worth $34,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Albemarle by 536.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

ALB has been the topic of a number of research reports. Citigroup raised their price objective on Albemarle from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Morgan Stanley raised their price objective on Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Rothschild & Co Redburn lowered Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 price objective on the stock. in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group raised their price objective on Albemarle from $230.00 to $244.00 in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.26.

Get Our Latest Research Report on Albemarle

Albemarle Company Profile

(Get Free Report)

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.

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