Albemarle Corporation $ALB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of Albemarle Corporation (NYSE:ALB) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,766,197 shares of the specialty chemicals company’s stock after selling 247,107 shares during the period. ProShare Advisors LLC’s holdings in Albemarle were worth $249,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALB. Phoenix Financial Ltd. acquired a new position in Albemarle during the 4th quarter worth approximately $130,415,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Albemarle by 4,338.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 738,430 shares of the specialty chemicals company’s stock worth $104,444,000 after acquiring an additional 721,793 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Albemarle by 22,047.4% during the 2nd quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock worth $44,613,000 after acquiring an additional 710,589 shares in the last quarter. Samlyn Capital LLC purchased a new stake in shares of Albemarle during the 3rd quarter worth approximately $47,088,000. Finally, Caisse de depot et placement du Quebec purchased a new stake in shares of Albemarle during the 3rd quarter worth approximately $41,239,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the transaction, the chief executive officer owned 134,628 shares of the company’s stock, valued at $22,995,808.68. This represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ALB shares. Weiss Ratings raised Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Truist Financial boosted their price target on Albemarle from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Jefferies Financial Group boosted their price target on Albemarle from $230.00 to $244.00 in a research note on Monday, May 11th. Finally, Wall Street Zen raised Albemarle from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.26.

Albemarle Trading Down 2.6%

Shares of Albemarle stock opened at $175.77 on Tuesday. Albemarle Corporation has a fifty-two week low of $53.70 and a fifty-two week high of $221.00. The firm has a market cap of $20.73 billion, a PE ratio of -51.55, a P/E/G ratio of 0.91 and a beta of 1.36. The business’s fifty day moving average is $182.25 and its two-hundred day moving average is $159.28. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company posted ($0.18) EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. Analysts anticipate that Albemarle Corporation will post 12.45 earnings per share for the current year.

Albemarle Announces Dividend

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

Albemarle Company Profile

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.