Fairvoy Private Wealth LLC Buys New Stake in Albemarle Corporation $ALB

Fairvoy Private Wealth LLC bought a new stake in shares of Albemarle Corporation (NYSE:ALB) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,343 shares of the specialty chemicals company’s stock, valued at approximately $780,000.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock worth $229,000 after purchasing an additional 654 shares during the period. Integrated Wealth Concepts LLC increased its stake in Albemarle by 26.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after buying an additional 996 shares during the period. United Services Automobile Association bought a new stake in shares of Albemarle during the 1st quarter worth about $208,000. Empowered Funds LLC bought a new stake in shares of Albemarle during the 1st quarter worth about $411,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Albemarle from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Royal Bank Of Canada increased their price target on Albemarle from $253.00 to $257.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Rothschild & Co Redburn cut Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 price target on the stock. in a research report on Wednesday, April 22nd. Finally, Bank of America boosted their price objective on Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.54.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 87,519 shares of the company’s stock, valued at $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Albemarle Trading Down 4.8%

Shares of ALB opened at $140.76 on Friday. The business’s 50-day moving average price is $177.67 and its 200 day moving average price is $169.35. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The stock has a market capitalization 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 announced its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, topping the consensus estimate of $1.24 by $1.71. The company 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 business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the company posted ($0.18) earnings per share. Analysts expect that Albemarle Corporation will post 12.98 earnings per share for the current year.

Albemarle Announces Dividend

The company 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 dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, June 12th. Albemarle’s payout ratio is presently -47.51%.

Albemarle Company 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.