Night Squared LP acquired a new stake in shares of Albemarle Corporation (NYSE:ALB – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 21,135 shares of the specialty chemicals company’s stock, valued at approximately $2,989,000.
Several other large investors have also bought and sold shares of ALB. AQR Capital Management LLC boosted its position in Albemarle by 25.5% during the 1st quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock worth $346,000 after purchasing an additional 996 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Albemarle in the 1st quarter worth approximately $208,000. Empowered Funds LLC bought a new stake in shares of Albemarle in the 1st quarter worth approximately $411,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 483 shares in the last quarter. 92.87% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ALB has been the topic of a number of analyst reports. Berenberg Bank boosted their price target on Albemarle from $153.00 to $192.00 and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Oppenheimer boosted their price target on Albemarle from $216.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Truist Financial boosted their price target on Albemarle from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup boosted their price target on Albemarle from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price target on Albemarle from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.04.
Albemarle Price Performance
Shares of NYSE ALB opened at $166.25 on Wednesday. Albemarle Corporation has a twelve month low of $55.90 and a twelve month high of $221.00. The firm has a market cap of $19.61 billion, a P/E ratio of -48.75, a PEG ratio of 0.85 and a beta of 1.30. The company has a 50 day moving average of $180.92 and a 200 day moving average of $167.97. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23.
Albemarle (NYSE:ALB – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share 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 company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned ($0.18) EPS. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, research analysts expect that Albemarle Corporation will post 12.39 EPS for the current fiscal year.
Albemarle Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, June 12th. Albemarle’s payout ratio is presently -47.51%.
Insiders Place Their Bets
In related news, CEO J Kent Masters sold 16,393 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 87,519 shares in the company, valued at $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.
About Albemarle
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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