Albemarle Co. (NYSE:ALB) CAO John Clarence Barichivich III Sells 1,475 Shares of Stock

Albemarle Co. (NYSE:ALBGet Free Report) CAO John Clarence Barichivich III sold 1,475 shares of Albemarle stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Albemarle Stock Up 3.0 %

ALB opened at $135.46 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. The stock has a fifty day moving average of $123.61 and a 200-day moving average of $125.76. Albemarle Co. has a fifty-two week low of $106.69 and a fifty-two week high of $247.44. The company has a market capitalization of $15.92 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.56 and a beta of 1.65.

Albemarle (NYSE:ALBGet Free Report) last posted its quarterly earnings data 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). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $10.32 EPS. The business’s revenue for the quarter was down 47.3% on a year-over-year basis. On average, equities analysts expect that Albemarle Co. will post 3.17 EPS for the current year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.18%. Albemarle’s payout ratio is 58.18%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen lowered Albemarle from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $220.00 to $130.00 in a research report on Monday, January 29th. Wells Fargo & Company upped their price target on shares of Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Mizuho lifted their price objective on shares of Albemarle from $112.00 to $128.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. 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 report on Friday, March 15th. Finally, Bank of America upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and raised their target price for the company from $137.00 to $156.00 in a research note on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Albemarle currently has an average rating of “Hold” and a consensus target price of $172.05.

View Our Latest Research Report on ALB

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Capital Research Global Investors increased its stake in shares of Albemarle by 128.5% in the 4th quarter. Capital Research Global Investors now owns 7,076,357 shares of the specialty chemicals company’s stock valued at $1,022,420,000 after purchasing an additional 3,979,885 shares during the last quarter. Norges Bank acquired a new position in Albemarle during the fourth quarter worth about $377,341,000. Franklin Resources Inc. lifted its holdings in shares of Albemarle by 47.4% in the fourth quarter. Franklin Resources Inc. now owns 5,185,734 shares of the specialty chemicals company’s stock worth $749,235,000 after acquiring an additional 1,667,164 shares during the last quarter. Capital International Investors boosted its stake in shares of Albemarle by 31.7% in the 4th quarter. Capital International Investors now owns 5,800,219 shares of the specialty chemicals company’s stock valued at $838,025,000 after purchasing an additional 1,396,624 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Albemarle by 55.8% during the 4th quarter. Primecap Management Co. CA now owns 3,476,674 shares of the specialty chemicals company’s stock valued at $502,310,000 after purchasing an additional 1,245,719 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

(Get 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.

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