Albemarle Corporation $ALB Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in Albemarle Corporation (NYSE:ALB) by 4,338.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 738,430 shares of the specialty chemicals company’s stock after purchasing an additional 721,793 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Albemarle were worth $104,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Assetmark Inc. increased its stake in Albemarle by 10.9% in the fourth quarter. Assetmark Inc. now owns 782 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 77 shares during the last quarter. Quotient Wealth Partners LLC grew its position in Albemarle by 2.8% during the fourth quarter. Quotient Wealth Partners LLC now owns 3,163 shares of the specialty chemicals company’s stock valued at $447,000 after acquiring an additional 85 shares during the period. Per Stirling Capital Management LLC. grew its position in Albemarle by 2.8% during the third quarter. Per Stirling Capital Management LLC. now owns 3,332 shares of the specialty chemicals company’s stock valued at $270,000 after acquiring an additional 91 shares during the period. Signaturefd LLC grew its position in Albemarle by 7.8% during the fourth quarter. Signaturefd LLC now owns 1,402 shares of the specialty chemicals company’s stock valued at $198,000 after acquiring an additional 102 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Albemarle by 18.2% during the third quarter. EverSource Wealth Advisors LLC now owns 677 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Price Performance

Shares of NYSE ALB opened at $180.46 on Friday. Albemarle Corporation has a 1-year low of $53.70 and a 1-year high of $221.00. The business has a 50-day moving average of $182.00 and a 200-day moving average of $158.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of -52.92, a PEG ratio of 0.91 and a beta of 1.36.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The company’s revenue was up 32.7% compared to the same quarter last year. On average, equities analysts anticipate that Albemarle Corporation will post 12.45 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.405 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. Albemarle’s payout ratio is -47.51%.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the transaction, the chief executive officer owned 134,628 shares in the company, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

ALB has been the subject of a number of research reports. UBS Group boosted their price target on Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Morgan Stanley boosted their price target on Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Wall Street Zen raised Albemarle from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company boosted their price target on Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price target on Albemarle from $245.00 to $253.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Albemarle has a consensus rating of “Moderate Buy” and a consensus price target of $200.26.

About Albemarle

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.