Albemarle Corporation (NYSE:ALB) Shares Sold by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA cut its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,490 shares of the specialty chemicals company's stock after selling 5,191 shares during the quarter. Roffman Miller Associates Inc. PA's holdings in Albemarle were worth $3,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Concurrent Investment Advisors LLC purchased a new position in shares of Albemarle during the first quarter worth approximately $271,000. Pacific Heights Asset Management LLC boosted its stake in shares of Albemarle by 7.7% during the first quarter. Pacific Heights Asset Management LLC now owns 70,000 shares of the specialty chemicals company's stock valued at $5,041,000 after purchasing an additional 5,000 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Albemarle by 10.9% during the first quarter. IFM Investors Pty Ltd now owns 24,945 shares of the specialty chemicals company's stock valued at $1,797,000 after purchasing an additional 2,446 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Albemarle by 6.7% during the first quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock valued at $272,000 after purchasing an additional 239 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Albemarle during the first quarter valued at approximately $1,238,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALB shares. Truist Financial dropped their price objective on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Scotiabank dropped their price objective on shares of Albemarle from $75.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen upgraded shares of Albemarle to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company lowered their target price on shares of Albemarle from $80.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Citigroup lowered their target price on shares of Albemarle from $85.00 to $64.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Albemarle has an average rating of "Hold" and an average target price of $91.62.

Albemarle Stock Performance

ALB traded up $4.67 on Tuesday, reaching $70.17. The stock had a trading volume of 7,273,642 shares, compared to its average volume of 2,878,840. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91. The company has a current ratio of 2.11, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The business's 50-day moving average price is $60.20 and its two-hundred day moving average price is $70.86. The company has a market cap of $8.26 billion, a P/E ratio of -6.31 and a beta of 1.63.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.62) by $0.44. Albemarle had a negative net margin of 22.39% and a negative return on equity of 1.92%. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The firm's revenue for the quarter was down 20.9% on a year-over-year basis. Sell-side analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.405 per share. The ex-dividend date was Friday, June 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.31%. Albemarle's dividend payout ratio is currently -14.57%.

Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.