Human Investing LLC in Albemarle Co. during the 4th quarter. (NYSE:ALB – Get Rating ) bought a new stake, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,499 shares of the specialty chemicals company’s stock, valued at approximately $325,000.
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Several other institutional investors have also recently made changes to their positions in the company. Green Square Capital Advisors LLC boosted its holdings in Albemarle by 1.6% during the 3rd quarter. Green Square Capital Advisors LLC now owns 2,321 shares of the specialty chemicals company’s stock valued at $614,000 after acquiring an additional 36 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in Albemarle by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,671 shares of the specialty chemicals company’s stock valued at $442,000 after buying an additional 37 shares during the period. Central Trust Co lifted its holdings in Albemarle by 3.4% in the 3rd quarter. Central Trust Co now owns 1,149 shares of the specialty chemicals company’s stock valued at $304,000 after buying an additional 38 shares in the last quarter. Covestor Ltd boosted its position in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 44 shares during the period. Finally, Busey Wealth Management grew its stake in Albemarle by 2.4% during the 4th quarter. Busey Wealth Management now owns 1,962 shares of the specialty chemicals company’s stock valued at $425,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 82.24% of the company’s stock.
In related news, CFO Scott Tozier sold 5,700 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $251.40 for a total value of $1,432,980.00. Following the sale, the chief financial officer now owns 69,503 shares in the company, valued at $17,473,054.20. The sale was disclosed in a legal filing with the SEC, which is available via this link. Corporate insiders own 0.25% of the company’s stock.
Albemarle stock performance
Shares of Albemarle stock opened at $194.68 on Friday. The company has a 50 day moving average price of $243.37 and a 200 day moving average price of $255.11. The firm has a market capitalization of $22.84 billion, a P/E ratio of 8.53, a PEG ratio of 0.41 and a beta of 1.53. The company has a quick ratio of 1.13, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. Albemarle Co. It has a 52 week low of $185.15 and a 52 week high of $334.55.
Albemarle (NYSE:ALB – Get Ratings ) last posted its quarterly earnings results on Thursday, February 16th. The specialty chemicals company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.46 by $0.16. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Albemarle had a net margin of 36.75% and a return on equity of 37.63%. The business’s quarterly revenue was up 193.1% on a year-over-year basis. The company earned $1.01 per share in the same quarter last year. sell-side analysts expect that Albemarle Co. will post 29.53 EPS for the current year.
Albemarle Increases Dividends
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 17th were given a dividend of $0.40 per share. This represents a $1.60 annual dividend and a yield of 0.82%. The ex-dividend date was Thursday, March 16th. This is an increase from Albemarle’s previous quarterly dividend of $0.40 Albemarle’s payout ratio is currently 7.01%.
Wall Street analysts forecast an increase
ALB has been the subject of many research reports. Citigroup reduced their price target on Albemarle from $345.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Deutsche Bank Aktiengesellschaft raised their price target on Albemarle from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 25th. Robert W. Baird Albemarle upped their price objective from $298.00 to $305.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Piper Sandler upped their target price on shares of Albemarle from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Finally, Loop Capital boosted their price target on shares of Albemarle from $397.00 to $403.00 in a report on Friday, March 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $299.00, according to data from MarketBeat.
Albemarle Corp. Engaged in the development, manufacturing and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following business segments: Lithium, Bromine, Catalysts and Others.
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