Fairvoy Private Wealth LLC Takes Position in Albemarle Corporation $ALB

Fairvoy Private Wealth LLC purchased a new position in Albemarle Corporation (NYSE:ALB) in the first quarter, Holdings Channel reports. The fund purchased 4,343 shares of the specialty chemicals company’s stock, valued at approximately $780,000.

Several other institutional investors have also made changes to their positions in ALB. Nordea Investment Management AB acquired a new position in shares of Albemarle in the fourth quarter worth $6,171,000. Altfest L J & Co. Inc. acquired a new stake in Albemarle during the fourth quarter valued at $1,055,000. Three Seasons Wealth LLC purchased a new position in Albemarle in the fourth quarter valued at about $873,000. J. Safra Sarasin Holding AG increased its position in Albemarle by 493.3% in the 4th quarter. J. Safra Sarasin Holding AG now owns 84,011 shares of the specialty chemicals company’s stock worth $11,883,000 after purchasing an additional 69,850 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. increased its position in Albemarle by 181.8% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company’s stock worth $18,705,000 after purchasing an additional 85,320 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Down 4.8%

Shares of Albemarle stock opened at $140.76 on Friday. Albemarle Corporation has a 1 year low of $60.64 and a 1 year high of $221.00. The company’s fifty day simple moving average is $177.67 and its 200-day simple moving average is $169.35. The company has a market cap of $16.60 billion, a price-to-earnings ratio of -41.28, a PEG ratio of 0.71 and a beta of 1.30. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating the consensus estimate of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company earned ($0.18) EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. As a group, sell-side analysts expect that Albemarle Corporation will post 12.98 EPS for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.2%. Albemarle’s dividend payout ratio is currently -47.51%.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the completion of the sale, the chief executive officer owned 87,519 shares in the company, valued at approximately $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALB. Jefferies Financial Group lifted their price target on Albemarle from $230.00 to $244.00 in a report on Monday, May 11th. Argus increased their price objective on Albemarle from $185.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research report on Tuesday, May 26th. Morgan Stanley lifted their target price on shares of Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Rothschild & Co Redburn downgraded shares of Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 target price for the company. in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.54.

Albemarle 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.