EverSource Wealth Advisors LLC Raises Position in Albemarle Co. (NYSE:ALB)

EverSource Wealth Advisors LLC lifted its stake in Albemarle Co. (NYSE:ALBFree Report) by 43.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 515 shares of the specialty chemicals company’s stock after purchasing an additional 156 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Albemarle were worth $74,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. USCF Advisers LLC increased its position in Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Arlington Trust Co LLC bought a new position in Albemarle during the 4th quarter valued at about $30,000. Tyler Stone Wealth Management purchased a new stake in Albemarle in the 3rd quarter worth about $35,000. VisionPoint Advisory Group LLC lifted its stake in Albemarle by 21,400.0% in the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 214 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Albemarle by 77.2% during the fourth quarter. Assetmark Inc. now owns 257 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 112 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Up 3.8 %

Shares of Albemarle stock opened at $127.59 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.84 and a debt-to-equity ratio of 0.37. The company has a market cap of $15.00 billion, a P/E ratio of 46.40, a PEG ratio of 2.60 and a beta of 1.65. The firm’s 50 day moving average price is $124.50 and its 200-day moving average price is $125.98. Albemarle Co. has a 52-week low of $106.69 and a 52-week high of $247.44.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The business’s revenue for the quarter was down 47.3% on a year-over-year basis. During the same period in the previous year, the company posted $10.32 earnings per share. On average, sell-side analysts predict that Albemarle Co. will post 3.07 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, June 14th. Albemarle’s dividend payout ratio is presently 58.18%.

Insider Transactions at Albemarle

In related news, CAO John Clarence Barichivich III sold 1,475 shares of Albemarle stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the sale, the chief accounting officer now directly owns 4,743 shares in the company, valued at approximately $626,882.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares in the company, valued at approximately $626,882.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Richard Mummert sold 843 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the sale, the senior vice president now owns 6,802 shares in the company, valued at approximately $921,875.06. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Oppenheimer reduced their price target on Albemarle from $191.00 to $188.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company lifted their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Bank of America upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and upped their price target for the stock from $137.00 to $156.00 in a report on Wednesday, April 10th. Scotiabank reiterated a “sector perform” rating and set a $135.00 price objective (down previously from $150.00) on shares of Albemarle in a report on Tuesday, May 21st. Finally, Loop Capital dropped their target price on shares of Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $165.16.

Get Our Latest Report on ALB

Albemarle Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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