Atlatl Advisers LLC Acquires Shares of 12,549 Albemarle Corporation $ALB

Atlatl Advisers LLC acquired a new stake in Albemarle Corporation (NYSE:ALB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,549 shares of the specialty chemicals company’s stock, valued at approximately $1,775,000.

A number of other hedge funds also recently bought and sold shares of the business. Signature Estate & Investment Advisors LLC raised its holdings in Albemarle by 1.9% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company’s stock valued at $508,000 after acquiring an additional 67 shares during the last quarter. Assetmark Inc. grew its stake 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. Quotient Wealth Partners LLC grew its stake in shares of Albemarle by 2.8% in the 4th quarter. Quotient Wealth Partners LLC now owns 3,163 shares of the specialty chemicals company’s stock valued at $447,000 after buying an additional 85 shares during the period. Harbour Investments Inc. grew its stake in shares of Albemarle by 6.2% in the 4th quarter. Harbour Investments Inc. now owns 1,463 shares of the specialty chemicals company’s stock valued at $207,000 after buying an additional 85 shares during the period. Finally, Per Stirling Capital Management LLC. grew its stake in shares of Albemarle by 2.8% in the 3rd quarter. Per Stirling Capital Management LLC. now owns 3,332 shares of the specialty chemicals company’s stock valued at $270,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

NYSE:ALB opened at $171.78 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The stock has a market capitalization of $20.26 billion, a P/E ratio of -50.38, a PEG ratio of 0.86 and a beta of 1.36. The company has a 50 day moving average price of $182.70 and a 200 day moving average price of $161.92. Albemarle Corporation has a fifty-two week low of $53.70 and a fifty-two week high of $221.00.

Albemarle (NYSE:ALB) last posted 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. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) EPS. Equities research analysts forecast that Albemarle Corporation will post 12.45 EPS for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.9%. Albemarle’s dividend payout ratio (DPR) is presently -47.51%.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALB. Argus increased their price target on shares of Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Berenberg Bank set a $153.00 price target on shares of Albemarle in a research note on Monday, February 23rd. Oppenheimer increased their price target on shares of Albemarle from $216.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Truist Financial increased their price target on shares of Albemarle from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One 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 given a Sell rating to the stock. According to MarketBeat.com, Albemarle presently has a consensus rating of “Moderate Buy” and an average price target of $200.26.

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.