WealthPLAN Partners LLC decreased its holdings in shares of Albemarle Corporation (NYSE:ALB – Free Report) by 31.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,757 shares of the specialty chemicals company’s stock after selling 6,353 shares during the quarter. WealthPLAN Partners LLC’s holdings in Albemarle were worth $2,470,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Evexia Wealth LLC grew its holdings in Albemarle by 2.3% during the first quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company’s stock valued at $387,000 after purchasing an additional 47 shares during the period. Parallel Advisors LLC raised its holdings in Albemarle by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company’s stock worth $349,000 after purchasing an additional 60 shares during the period. Eaton Financial Holdings Company LLC raised its holdings in Albemarle by 1.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company’s stock worth $816,000 after purchasing an additional 66 shares during the period. Signature Estate & Investment Advisors LLC boosted its position in shares of Albemarle by 1.9% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company’s stock worth $508,000 after purchasing an additional 67 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Albemarle by 10.9% in the 4th quarter. Assetmark Inc. now owns 782 shares of the specialty chemicals company’s stock valued at $111,000 after buying an additional 77 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Albemarle Stock Down 3.4%
Shares of ALB stock opened at $129.31 on Wednesday. Albemarle Corporation has a 52-week low of $64.95 and a 52-week high of $221.00. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of -37.92 and a beta of 1.34. The firm’s 50-day moving average is $167.69 and its 200-day moving average is $169.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07.
Albemarle (NYSE:ALB – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $1.71. The business 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 5.22% and a negative net margin of 5.00%.The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) EPS. Sell-side analysts predict that Albemarle Corporation will post 13.15 EPS for the current year.
Albemarle Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a $0.405 dividend. The ex-dividend date was Friday, June 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.3%. Albemarle’s dividend payout ratio is -47.51%.
Albemarle Profile
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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