Altshuler Shaham Ltd Takes Position in Albemarle Corporation $ALB

Altshuler Shaham Ltd purchased a new position in Albemarle Corporation (NYSE:ALB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 528,131 shares of the specialty chemicals company's stock, valued at approximately $94,815,000. Albemarle accounts for 1.5% of Altshuler Shaham Ltd's holdings, making the stock its 25th largest position. Altshuler Shaham Ltd owned approximately 0.45% of Albemarle as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Amundi grew its position in Albemarle by 1.3% in the 1st quarter. Amundi now owns 589,100 shares of the specialty chemicals company's stock worth $105,762,000 after purchasing an additional 7,725 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Albemarle by 76.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,691 shares of the specialty chemicals company's stock valued at $304,000 after buying an additional 731 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Albemarle by 22.0% in the first quarter. California State Teachers Retirement System now owns 136,123 shares of the specialty chemicals company's stock valued at $24,438,000 after buying an additional 24,549 shares during the period. Regal Partners Ltd grew its position in Albemarle by 60.2% during the first quarter. Regal Partners Ltd now owns 47,418 shares of the specialty chemicals company's stock worth $8,513,000 after buying an additional 17,823 shares in the last quarter. Finally, Electron Capital Partners LLC bought a new position in Albemarle during the first quarter valued at about $39,911,000. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the business'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 completion of the transaction, the chief executive officer directly owned 87,519 shares in the company, valued at approximately $16,078,990.68. The trade was 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. Company insiders own 0.42% of the company's stock.

Albemarle Stock Down 2.5%

NYSE ALB opened at $113.28 on Wednesday. The stock has a market capitalization of $13.36 billion, a P/E ratio of -33.22 and a beta of 1.34. Albemarle Corporation has a 52 week low of $64.95 and a 52 week high of $221.00. 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 stock has a fifty day moving average of $146.11 and a 200-day moving average of $166.74.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $1.71. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. On average, equities research analysts forecast that Albemarle Corporation will post 12.86 EPS for the current year.

Albemarle Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, September 11th. This is a positive change from Albemarle's previous quarterly dividend of $0.41. This represents a $1.64 annualized dividend and a yield of 1.4%. Albemarle's payout ratio is currently -47.51%.

Analyst Ratings Changes

ALB has been the subject of a number of recent research reports. Rothschild & Co Redburn cut their target price on Albemarle from $188.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Morgan Stanley increased their price objective on shares of Albemarle from $170.00 to $189.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Mizuho decreased their target price on shares of Albemarle from $205.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. Royal Bank Of Canada set a $166.00 price target on shares of Albemarle in a research report on Friday, July 17th. Finally, Wall Street Zen raised Albemarle from a "buy" rating to a "strong-buy" rating in a report on Monday, July 13th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.22.

Albemarle 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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