Albemarle Corporation $ALB Shares Sold by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC cut its Albemarle stake by 72.4% in the first quarter, selling 28,158 shares and leaving it with 10,758 shares valued at about $1.99 million.
• Albemarle reported strong quarterly results, with EPS of $2.95 versus the $1.24 estimate and revenue of $1.43 billion, up 32.7% year over year.
• The company also announced a quarterly dividend of $0.405 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $202.54.

Fiduciary Alliance LLC lowered its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 72.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,758 shares of the specialty chemicals company's stock after selling 28,158 shares during the period. Fiduciary Alliance LLC's holdings in Albemarle were worth $1,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB acquired a new position in shares of Albemarle in the fourth quarter valued at about $6,171,000. Altfest L J & Co. Inc. acquired a new stake in shares of Albemarle during the fourth quarter worth about $1,055,000. Three Seasons Wealth LLC acquired a new stake in shares of Albemarle during the fourth quarter worth about $873,000. J. Safra Sarasin Holding AG boosted its position in Albemarle by 493.3% in the fourth quarter. J. Safra Sarasin Holding AG now owns 84,011 shares of the specialty chemicals company's stock valued at $11,883,000 after buying an additional 69,850 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. boosted its position in Albemarle by 181.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company's stock valued at $18,705,000 after buying an additional 85,320 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Down 4.8%

Albemarle stock opened at $140.76 on Friday. The firm has a market cap of $16.60 billion, a PE ratio of -41.28, a P/E/G ratio of 0.71 and a beta of 1.30. Albemarle Corporation has a 12 month low of $60.64 and a 12 month high of $221.00. The stock's 50 day simple moving average is $177.67 and its two-hundred day simple moving average 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.

Albemarle (NYSE:ALB - Get Free Report) last posted its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm earned ($0.18) EPS. The business's quarterly revenue was up 32.7% on a year-over-year basis. Analysts anticipate that Albemarle Corporation will post 12.98 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid 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 of this dividend is Friday, June 12th. Albemarle's dividend payout ratio is presently -47.51%.

Insider Activity

In other 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 transaction 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 trade represents a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALB shares. Scotiabank increased their price target on shares of Albemarle from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Jefferies Financial Group upped their price objective on shares of Albemarle from $230.00 to $244.00 in a report on Monday, May 11th. Morgan Stanley increased their price objective 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Albemarle from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Albemarle from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $202.54.

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.

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