BIT Capital GmbH Takes $1.70 Million Position in Albemarle Corporation $ALB

BIT Capital GmbH purchased a new stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,000 shares of the specialty chemicals company's stock, valued at approximately $1,697,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. MH & Associates Securities Management Corp ADV acquired a new stake in shares of Albemarle in the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in shares of Albemarle in the 4th quarter valued at $34,000. Torren Management LLC acquired a new stake in shares of Albemarle in the 4th quarter valued at $38,000. Root Financial Partners LLC lifted its stake in shares of Albemarle by 121.5% in the 4th quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company's stock valued at $42,000 after purchasing an additional 164 shares during the last quarter. Finally, Strategic Advocates LLC acquired a new stake in shares of Albemarle in the 3rd quarter valued at $25,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALB shares. HSBC upped their price objective on shares of Albemarle from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Evercore upped their price objective on shares of Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. UBS Group upped their price objective on shares of Albemarle from $230.00 to $264.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Vertical Research raised shares of Albemarle from a "hold" rating to a "buy" rating and set a $224.00 target price on the stock in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada upped their target price on shares of Albemarle from $253.00 to $257.00 and gave the company an "outperform" rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $203.04.

Insiders Place Their Bets

In related news, CEO J Kent Masters sold 16,393 shares of the firm's stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Albemarle Stock Down 6.0%

Shares of ALB stock opened at $155.73 on Friday. The firm has a fifty day moving average of $183.54 and a 200-day moving average of $165.76. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. Albemarle Corporation has a 12-month low of $55.90 and a 12-month high of $221.00. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of -45.67, a P/E/G ratio of 0.84 and a beta of 1.30.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (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 the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, equities research analysts predict that Albemarle Corporation will post 12.39 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a $0.405 dividend. The ex-dividend date of this dividend 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 (DPR) is -47.51%.

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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