Virtu Financial LLC Takes $2.36 Million Position in Albemarle Corporation $ALB

Virtu Financial LLC bought a new stake in Albemarle Corporation (NYSE:ALB – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,686 shares of the specialty chemicals company’s stock, valued at approximately $2,360,000.

Several other large investors have also recently added to or reduced their stakes in the business. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle in the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in shares of Albemarle during the 4th quarter valued at about $34,000. Torren Management LLC acquired a new position in shares of Albemarle during the 4th quarter valued at about $38,000. Root Financial Partners LLC lifted its holdings in shares of Albemarle by 121.5% during the 4th quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 164 shares during the period. Finally, Strategic Advocates LLC purchased a new position in shares of Albemarle during the 3rd quarter worth about $25,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $16,078,990.68. This trade represents a 15.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn cut shares of Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 target price on the stock. in a research report on Wednesday, April 22nd. Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a research report on Tuesday, May 26th. UBS Group increased their price target on shares of Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. HSBC lifted their price target on shares of Albemarle from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Albemarle presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.54.

Check Out Our Latest Research Report on ALB

Albemarle Stock Performance

NYSE ALB opened at $160.13 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21. Albemarle Corporation has a 1-year low of $55.90 and a 1-year high of $221.00. The firm has a market capitalization of $18.88 billion, a P/E ratio of -46.96, a P/E/G ratio of 0.81 and a beta of 1.30. The business’s 50-day simple moving average is $180.19 and its 200-day simple moving average is $168.40.

Albemarle (NYSE:ALB – Get Free Report) last posted its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned ($0.18) EPS. The company’s revenue was up 32.7% on a year-over-year basis. Equities analysts predict that Albemarle Corporation will post 12.39 EPS for the current year.

Albemarle Dividend Announcement

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

Albemarle Profile

(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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