Wealth High Governance Asset Management Ltda. Sells 19,440 Shares of Albemarle Corporation $ALB

Wealth High Governance Asset Management Ltda. decreased its holdings in shares of Albemarle Corporation (NYSE:ALB) by 35.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,776 shares of the specialty chemicals company’s stock after selling 19,440 shares during the quarter. Albemarle comprises approximately 2.3% of Wealth High Governance Asset Management Ltda.’s investment portfolio, making the stock its 21st biggest holding. Wealth High Governance Asset Management Ltda.’s holdings in Albemarle were worth $6,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Evexia Wealth LLC grew its holdings in Albemarle by 2.3% during the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company’s stock worth $387,000 after acquiring an additional 47 shares during the period. Parallel Advisors LLC lifted its stake in shares of Albemarle by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company’s stock valued at $349,000 after purchasing an additional 60 shares during the period. Eaton Financial Holdings Company LLC boosted its position in shares of Albemarle by 1.2% in the 4th quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company’s stock worth $816,000 after purchasing an additional 66 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Albemarle by 2.3% in the 1st quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company’s stock worth $530,000 after purchasing an additional 66 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its stake in shares of Albemarle by 1.9% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company’s stock worth $508,000 after purchasing an additional 67 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Albemarle Stock Down 0.2%

ALB stock opened at $117.46 on Monday. The company has a market cap of $13.85 billion, a price-to-earnings ratio of -34.45 and a beta of 1.34. 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 Corporation has a twelve month low of $64.95 and a twelve month high of $221.00. The business has a 50 day moving average price of $142.86 and a two-hundred day moving average price of $165.76.

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 analysts’ consensus estimates 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts anticipate that Albemarle Corporation will post 12.79 EPS for the current fiscal year.

Albemarle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $0.41 dividend. This is an increase from Albemarle’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, September 11th. This represents a $1.64 annualized dividend and a yield of 1.4%. Albemarle’s dividend payout ratio (DPR) is -48.09%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALB. Scotiabank reissued an “outperform” rating on shares of Albemarle in a research note on Tuesday, July 28th. Morgan Stanley raised their price target on Albemarle from $170.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Bank of America boosted their price objective on Albemarle from $190.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Zacks Research lowered shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Fifteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.22.

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.