Key Points
- J Kent Masters, Albemarle's CEO, sold 11,783 shares on March 10 at an average price of $170.81, raising about $2.01 million and reducing his direct stake by 8.05% to 134,628 shares.
- Albemarle reported quarterly EPS of ($0.53), missing estimates by $0.13 while revenue rose 15.9% year‑over‑year to $1.43 billion; the stock was trading around $159.81 with a market cap near $18.8 billion and a negative P/E.
- The company declared a quarterly dividend of $0.405 per share (annualized $1.62) with an ex‑dividend date of March 13, implying a yield of about 1.0%.
Albemarle Corporation (NYSE:ALB - Get Free Report) CEO J Kent Masters sold 11,783 shares of the 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 sale, the chief executive officer directly owned 134,628 shares of the company's stock, valued at approximately $22,995,808.68. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Albemarle Price Performance
Albemarle stock traded down $4.08 during mid-day trading on Friday, hitting $159.81. The company's stock had a trading volume of 494,965 shares, compared to its average volume of 3,008,454. The stock has a market capitalization of $18.83 billion, a P/E ratio of -27.60, a P/E/G ratio of 1.29 and a beta of 1.43. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $206.00. The stock's fifty day moving average price is $170.61 and its two-hundred day moving average price is $127.80. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41.
Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.13). The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. Albemarle's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted ($1.09) EPS. Research analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.
Albemarle Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th. Albemarle's payout ratio is presently -28.17%.
Wall Street Analyst Weigh In
Several brokerages recently commented on ALB. Stephens restated an "outperform" rating on shares of Albemarle in a research report on Friday, December 19th. UBS Group boosted their target price on shares of Albemarle from $185.00 to $205.00 and gave the company a "buy" rating in a research note on Monday, January 12th. JPMorgan Chase & Co. decreased their target price on Albemarle from $195.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, February 13th. Argus lifted their price target on Albemarle from $140.00 to $185.00 in a report on Monday, February 23rd. Finally, Jefferies Financial Group increased their price objective on Albemarle from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Albemarle has an average rating of "Moderate Buy" and a consensus price target of $170.24.
Read Our Latest Stock Report on Albemarle
Institutional Trading of Albemarle
Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Albemarle by 25.5% in the 1st quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company's stock valued at $229,000 after buying an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Albemarle by 26.2% in the first quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company's stock worth $346,000 after acquiring an additional 996 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Albemarle during the 1st quarter worth $208,000. Empowered Funds LLC bought a new position in shares of Albemarle during the 1st quarter valued at $411,000. Finally, Assetmark Inc. lifted its stake in shares of Albemarle by 248.0% in the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company's stock valued at $43,000 after purchasing an additional 491 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.
Albemarle Company Profile
(
Get Free Report)
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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