Albemarle Corporation $ALB Position Increased by SG Americas Securities LLC

SG Americas Securities LLC raised its position in shares of Albemarle Corporation (NYSE:ALB) by 44.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,759 shares of the specialty chemicals company’s stock after purchasing an additional 55,642 shares during the period. SG Americas Securities LLC owned 0.15% of Albemarle worth $32,452,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Strategic Advocates LLC bought a new stake in shares of Albemarle during the 3rd quarter worth about $25,000. MH & Associates Securities Management Corp ADV bought a new position in shares of Albemarle in the 4th quarter valued at approximately $26,000. BOKF NA lifted its holdings in Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 404 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in Albemarle in the 4th quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC boosted its position in Albemarle by 536.7% during the second 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 during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Down 4.3%

ALB opened at $149.94 on Wednesday. The company has a market capitalization of $17.68 billion, a P/E ratio of -43.97, a P/E/G ratio of 0.79 and a beta of 1.30. 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 firm’s fifty day moving average price is $179.40 and its two-hundred day moving average price is $169.04. Albemarle Corporation has a fifty-two week low of $58.60 and a fifty-two week high of $221.00.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $1.71. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, analysts anticipate that Albemarle Corporation will post 12.39 EPS for the current year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid 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 1.1%. Albemarle’s payout ratio is currently -47.51%.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

ALB has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Citigroup raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Thursday, June 18th. Berenberg Bank raised their target price on shares of Albemarle from $153.00 to $192.00 and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Bank of America lifted their target price on shares of Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Truist Financial boosted their target price on shares of Albemarle from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and a consensus target price of $202.54.

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.