Hsbc Holdings PLC Has $59.66 Million Holdings in Albemarle Corporation $ALB

Hsbc Holdings PLC grew its holdings in shares of Albemarle Corporation (NYSE:ALB) by 42.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,651 shares of the specialty chemicals company’s stock after acquiring an additional 97,961 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Albemarle worth $59,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. MH & Associates Securities Management Corp ADV acquired a new stake in shares of Albemarle in the 4th quarter valued at approximately $26,000. BOKF NA increased its holdings in shares of Albemarle by 5,771.4% during 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 in the last quarter. Elyxium Wealth LLC bought a new position in Albemarle in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 483 shares during the last quarter. Finally, Torren Management LLC acquired a new position in shares of Albemarle in the fourth quarter valued at approximately $38,000. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of Albemarle stock opened at $120.84 on Monday. 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 business has a 50-day moving average price of $156.46 and a two-hundred day moving average price of $168.29. Albemarle Corporation has a 1-year low of $64.95 and a 1-year high of $221.00. The company has a market cap of $14.25 billion, a P/E ratio of -35.44 and a beta of 1.34.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned ($0.18) EPS. The firm’s revenue was up 32.7% compared to the same quarter last year. As a group, analysts anticipate that Albemarle Corporation will post 13.07 EPS for the current year.

Albemarle Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Berenberg Bank raised their price objective on shares of Albemarle from $153.00 to $192.00 and gave the company a “hold” rating in a report on Tuesday, June 2nd. Zacks Research raised shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Vertical Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Tuesday, May 26th. Morgan Stanley lifted their target price on Albemarle from $170.00 to $189.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.52.

Insider Activity

In other news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the sale, the chief executive officer owned 87,519 shares of the company’s stock, valued at $16,078,990.68. This trade represents a 15.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.42% of the company’s stock.

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.