Albemarle Corporation $ALB Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management reduced its Albemarle stake by 11.4% in the fourth quarter, selling 5,952 shares and leaving it with 46,430 shares worth about $6.57 million.
• Albemarle reported strong quarterly results, with EPS of $2.95 beating estimates and revenue rising 32.7% year over year to $1.43 billion.
• The company announced a quarterly dividend of $0.405 per share, payable July 1, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $200.26.

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,430 shares of the specialty chemicals company's stock after selling 5,952 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Albemarle were worth $6,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in Albemarle during the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the fourth quarter valued at approximately $26,000. BOKF NA lifted its stake in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company's stock valued at $33,000 after purchasing an additional 404 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in Albemarle during the fourth quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 483 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Albemarle

In other Albemarle 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 value of $3,011,721.96. Following the completion of the sale, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

Albemarle Stock Down 0.1%

Shares of NYSE:ALB opened at $169.96 on Friday. 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 company has a market cap of $20.04 billion, a PE ratio of -49.84, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. Albemarle Corporation has a 52 week low of $53.70 and a 52 week high of $221.00. The firm has a 50 day simple moving average of $182.46 and a 200 day simple moving average of $160.80.

Albemarle (NYSE:ALB - Get Free Report) last released its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned ($0.18) EPS. The company's revenue was up 32.7% compared to the same quarter last year. As a group, research analysts expect that Albemarle Corporation will post 12.45 earnings per share for the current year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $0.405 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. Albemarle's dividend payout ratio is presently -47.51%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALB. JPMorgan Chase & Co. cut their target price on shares of Albemarle from $195.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, February 13th. Robert W. Baird upped their price target on shares of Albemarle from $210.00 to $236.00 in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Albemarle from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Royal Bank Of Canada upped their price target on shares of Albemarle from $245.00 to $253.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Finally, Jefferies Financial Group upped their price target on shares of Albemarle from $230.00 to $244.00 in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $200.26.

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.

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