Albemarle Corporation $ALB Shares Sold by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda reduced its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 56.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,112 shares of the specialty chemicals company's stock after selling 55,280 shares during the quarter. Albemarle accounts for 2.3% of Wealth High Governance Capital Ltda's portfolio, making the stock its 21st largest position. Wealth High Governance Capital Ltda's holdings in Albemarle were worth $7,560,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALB. MH & Associates Securities Management Corp ADV acquired a new position in shares of Albemarle during the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new position in Albemarle in the fourth quarter valued at about $34,000. Torren Management LLC purchased a new position in Albemarle in the fourth quarter valued at about $38,000. Sound Income Strategies LLC lifted its stake in shares of Albemarle by 190.1% during the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company's stock worth $52,000 after purchasing an additional 192 shares in the last quarter. Finally, Root Financial Partners LLC lifted its stake in shares of Albemarle by 121.5% during the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company's stock worth $42,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALB. Berenberg Bank increased their target price on Albemarle from $153.00 to $192.00 and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Morgan Stanley boosted their price target on Albemarle from $170.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Royal Bank Of Canada set a $166.00 price target on Albemarle in a report on Friday, July 17th. Scotiabank reaffirmed an "outperform" rating on shares of Albemarle in a research report on Tuesday, July 28th. Finally, Vertical Research upgraded shares of Albemarle from a "hold" rating to a "buy" rating and set a $224.00 price objective on the stock in a research note on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Albemarle has a consensus rating of "Moderate Buy" and an average price target of $199.22.

Albemarle Trading Down 0.2%

NYSE:ALB opened at $117.46 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. Albemarle Corporation has a one year low of $64.95 and a one year high of $221.00. The business's 50-day simple moving average is $142.86 and its 200 day simple moving average is $165.76. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of -34.45 and a beta of 1.34.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm 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 business posted ($0.18) earnings per share. Albemarle's revenue for the quarter was up 32.7% on a year-over-year basis. As a group, sell-side analysts predict that Albemarle Corporation will post 12.79 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.41 per share. This is an increase from Albemarle's previous quarterly dividend of $0.41. The ex-dividend date is Friday, September 11th. This represents a $1.64 annualized dividend and a dividend yield of 1.4%. Albemarle's dividend payout ratio (DPR) is currently -48.09%.

Insider Activity at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the firm's 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.42% of the company's stock.

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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