Stanley Laman Group Ltd. Sells 7,590 Shares of Albemarle Corporation $ALB

Key Points

• Stanley Laman Group Ltd. reduced its stake in Albemarle by 18.1%, selling 7,590 shares and leaving it with 34,260 shares valued at about $4.85 million per its SEC filing.
• CEO J. Kent Masters sold 11,783 shares at an average price of $170.81 for roughly $2.01 million, cutting his holding by 8.05%; insiders own 0.42% of the stock while institutional investors hold 92.87%.
• Albemarle reported Q4 EPS of -$0.53 (missing estimates by $0.13) on $1.43 billion revenue (+15.9% YoY), recently paid a $0.405 quarterly dividend (annualized $1.62, ~0.9% yield), and carries a consensus analyst rating of Moderate Buy with a $171.24 price target.

Stanley Laman Group Ltd. reduced its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,260 shares of the specialty chemicals company's stock after selling 7,590 shares during the period. Stanley Laman Group Ltd.'s holdings in Albemarle were worth $4,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Advocates LLC bought a new stake in Albemarle in the third quarter valued at $25,000. MH & Associates Securities Management Corp ADV bought a new stake in Albemarle in the fourth quarter valued at $26,000. BOKF NA increased its stake in Albemarle by 5,771.4% in 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 in the last quarter. Cromwell Holdings LLC increased its stake in Albemarle by 36.8% in the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 111 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Albemarle by 536.7% in 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 in the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Activity at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of Albemarle stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the transaction, the chief executive officer owned 134,628 shares of the company's stock, valued at $22,995,808.68. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Albemarle Trading Down 0.1%

NYSE:ALB opened at $173.47 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57. The firm has a 50-day moving average of $170.81 and a 200-day moving average of $141.99. The company has a market cap of $20.45 billion, a PE ratio of -30.17, a PEG ratio of 1.33 and a beta of 1.43. Albemarle Corporation has a one year low of $50.85 and a one year high of $206.00.

Albemarle (NYSE:ALB - Get Free Report) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned ($1.09) earnings per share. The company's revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. Albemarle's dividend payout ratio (DPR) is currently -28.17%.

Analyst Ratings Changes

ALB has been the subject of several research analyst reports. Truist Financial set a $210.00 price target on shares of Albemarle in a research note on Friday, March 6th. Rothschild & Co Redburn boosted their target price on shares of Albemarle from $158.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Argus boosted their target price on shares of Albemarle from $140.00 to $185.00 in a research report on Monday, February 23rd. Jefferies Financial Group boosted their target price on shares of Albemarle from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Finally, BMO Capital Markets boosted their target price on shares of Albemarle from $145.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.24.

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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