Sovereign Financial Group Inc. purchased a new position in Albemarle Co. (NYSE:ALB – Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 2,067 shares of the specialty chemicals company’s stock, valued at approximately $272,000.
A number of other large investors also recently modified their holdings of ALB. USCF Advisers LLC grew 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 worth $29,000 after buying an additional 100 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of Albemarle in the 4th quarter worth approximately $30,000. Tyler Stone Wealth Management acquired a new stake in shares of Albemarle during the 3rd quarter worth approximately $35,000. Jones Financial Companies Lllp increased its position in shares of Albemarle by 2,942.9% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 206 shares during the period. Finally, VisionPoint Advisory Group LLC raised its stake in shares of Albemarle by 21,400.0% in the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Albemarle Stock Up 8.1 %
NYSE ALB opened at $100.28 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. Albemarle Co. has a 52 week low of $92.29 and a 52 week high of $247.44. The stock has a market capitalization of $11.79 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 2.80 and a beta of 1.61. The stock has a fifty day moving average of $118.14 and a 200-day moving average of $123.97.
Albemarle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.60%. Albemarle’s dividend payout ratio is currently 58.18%.
Insider Buying and Selling at Albemarle
In other news, CAO John Clarence Barichivich III sold 1,475 shares of the 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 transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Richard Mummert sold 843 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the sale, the senior vice president now owns 6,802 shares in the company, valued at $921,875.06. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ALB. Piper Sandler decreased their price target on shares of Albemarle from $122.00 to $95.00 and set an “underweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. KeyCorp dropped their price target on shares of Albemarle from $178.00 to $159.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. UBS Group decreased their price objective on Albemarle from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. Finally, Scotiabank reissued a “sector perform” rating and issued a $135.00 target price (down from $150.00) on shares of Albemarle in a report on Tuesday, May 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Albemarle has an average rating of “Hold” and a consensus target price of $155.78.
View Our Latest Research Report on ALB
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.
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