Albemarle Corporation $ALB Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its holdings in Albemarle Corporation (NYSE:ALB) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,220 shares of the specialty chemicals company’s stock after selling 20,791 shares during the period. J. Safra Sarasin Holding AG’s holdings in Albemarle were worth $11,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Strategic Advocates LLC acquired a new position in shares of Albemarle during the 3rd quarter valued at $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the 4th quarter valued at approximately $26,000. BOKF NA increased its stake in shares of Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of Albemarle in the 4th quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC raised 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. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Albemarle

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

Analyst Ratings Changes

A number of analysts have weighed in on ALB shares. Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft raised their target price on Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Citigroup upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, June 18th. Truist Financial raised their target price on Albemarle from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada increased their price objective on Albemarle from $253.00 to $257.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.58.

Albemarle Trading Up 0.0%

NYSE ALB opened at $126.06 on Monday. Albemarle Corporation has a 1-year low of $64.95 and a 1-year high of $221.00. The firm’s fifty day simple moving average is $163.81 and its 200-day simple moving average is $169.11. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $14.87 billion, a PE ratio of -36.97 and a beta of 1.34.

Albemarle (NYSE:ALB) last announced its quarterly 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 positive return on equity of 5.22% and a negative net margin of 5.00%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted ($0.18) EPS. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Albemarle Corporation will post 13.06 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, June 12th. Albemarle’s dividend payout ratio is presently -47.51%.

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.