Albemarle Corporation $ALB Stake Lessened by Mizuho Markets Cayman LP

Mizuho Markets Cayman LP lessened its stake in shares of Albemarle Corporation (NYSE:ALB) by 50.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,946 shares of the specialty chemicals company’s stock after selling 14,409 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Albemarle were worth $1,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALB. BOKF NA raised its stake in shares of Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares in the last quarter. Cromwell Holdings LLC boosted its stake in Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 111 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 483 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new position in Albemarle during the third quarter worth about $40,000. Finally, Hantz Financial Services Inc. grew its holdings in Albemarle by 70.4% during the third quarter. Hantz Financial Services Inc. now owns 692 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 286 shares during the period. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of Albemarle 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 transaction, the chief executive officer directly owned 134,628 shares in the company, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Albemarle Price Performance

NYSE ALB opened at $162.39 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $206.00. The company has a market cap of $19.11 billion, a PE ratio of -28.24, a PEG ratio of 1.21 and a beta of 1.43. The stock’s 50-day moving average price is $171.21 and its two-hundred day moving average price is $129.49.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.09) earnings per share. On average, analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. Albemarle’s dividend payout ratio (DPR) is currently -28.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, January 12th. Oppenheimer boosted their target price on shares of Albemarle from $109.00 to $207.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Wells Fargo & Company set a $165.00 target price on shares of Albemarle in a research note on Monday, February 16th. Berenberg Bank set a $153.00 target price on shares of Albemarle in a report on Monday, February 23rd. Finally, Bank of America upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $167.00 to $190.00 in a research report on Tuesday, February 17th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Albemarle currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.24.

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.