Albemarle Corporation $ALB Shares Sold by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. decreased its holdings in shares of Albemarle Corporation (NYSE:ALB) by 29.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,000 shares of the specialty chemicals company’s stock after selling 5,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Albemarle were worth $1,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new position in Albemarle in the third quarter valued at $25,000. MH & Associates Securities Management Corp ADV acquired a new position in Albemarle in the fourth quarter valued at $26,000. BOKF NA boosted its holdings in Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 404 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Albemarle in the fourth quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 483 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $183.72, for a total value of $3,011,721.96. Following the transaction, the chief executive officer directly owned 87,519 shares of the company’s stock, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALB shares. Deutsche Bank Aktiengesellschaft lifted their target price on Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. UBS Group lifted their target price on Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a report on Friday, May 8th. Morgan Stanley lifted their target price on Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Wells Fargo & Company lifted their target price on Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Scotiabank lifted their target price on Albemarle from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Albemarle presently has an average rating of “Moderate Buy” and a consensus price target of $200.26.

Albemarle Trading Down 3.9%

NYSE:ALB opened at $168.82 on Wednesday. The business’s 50-day moving average is $182.39 and its two-hundred day moving average is $159.78. 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 12 month low of $53.70 and a 12 month high of $221.00. The firm has a market capitalization of $19.91 billion, a PE ratio of -49.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.36.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company posted ($0.18) earnings per share. The firm’s revenue was up 32.7% compared to the same quarter last year. Research analysts predict that Albemarle Corporation will post 12.45 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 yield of 1.0%. Albemarle’s dividend payout ratio (DPR) is -47.51%.

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.