Albemarle Corporation $ALB Shares Sold by Fiduciary Alliance LLC

Fiduciary Alliance LLC lessened its stake in Albemarle Corporation (NYSE:ALB) by 72.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,758 shares of the specialty chemicals company’s stock after selling 28,158 shares during the quarter. Fiduciary Alliance LLC’s holdings in Albemarle were worth $1,994,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. MH & Associates Securities Management Corp ADV acquired a new position in shares of Albemarle during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in Albemarle in the 4th quarter worth about $34,000. Torren Management LLC acquired a new stake in Albemarle in the 4th quarter worth about $38,000. Root Financial Partners LLC increased its stake in 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 buying an additional 164 shares in the last quarter. Finally, Strategic Advocates LLC purchased a new stake in Albemarle during the 3rd quarter worth approximately $25,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Down 4.8%

Shares of Albemarle stock opened at $140.76 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. The stock’s 50 day simple moving average is $177.67 and its 200-day simple moving average is $169.35. The stock has a market cap of $16.60 billion, a P/E ratio of -41.28, a P/E/G ratio of 0.71 and a beta of 1.30. Albemarle Corporation has a 1-year low of $60.64 and a 1-year high of $221.00.

Albemarle (NYSE:ALB) last posted its quarterly earnings results 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. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. Analysts predict that Albemarle Corporation will post 12.98 EPS for the current fiscal year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 12th. Albemarle’s payout ratio is currently -47.51%.

Wall Street Analyst Weigh In

ALB has been the topic of several research reports. UBS Group raised their target price on Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Mizuho raised their price objective on Albemarle from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley lifted their target price on shares of Albemarle from $170.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Scotiabank lifted their target price on shares of Albemarle from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.54.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the business’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 owned 87,519 shares of the company’s stock, valued at approximately $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

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.