Corient Private Wealth LLC Sells 2,228 Shares of Albemarle Co. (NYSE:ALB)

Corient Private Wealth LLC trimmed its stake in Albemarle Co. (NYSE:ALBFree Report) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,989 shares of the specialty chemicals company’s stock after selling 2,228 shares during the period. Corient Private Wealth LLC’s holdings in Albemarle were worth $1,154,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. USCF Advisers LLC lifted its stake in shares of Albemarle by 100.0% during the 4th quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Arlington Trust Co LLC bought a new stake in shares of Albemarle during the 4th quarter worth approximately $30,000. Tyler Stone Wealth Management bought a new stake in shares of Albemarle during the 3rd quarter worth approximately $35,000. VisionPoint Advisory Group LLC lifted its stake in shares of Albemarle by 21,400.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 214 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Albemarle by 147.2% during the 4th quarter. Venturi Wealth Management LLC now owns 262 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 156 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $132.17, for a total transaction of $194,950.75. Following the transaction, the chief accounting officer now directly owns 4,743 shares in the company, valued at approximately $626,882.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the sale, the senior vice president now owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO John Clarence Barichivich III sold 1,475 shares of Albemarle stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the sale, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Albemarle Trading Down 1.0 %

Shares of NYSE:ALB opened at $122.59 on Monday. Albemarle Co. has a 12-month low of $106.69 and a 12-month high of $247.44. The business’s fifty day simple moving average is $124.70 and its 200-day simple moving average is $126.17. The company has a market capitalization of $14.41 billion, a PE ratio of 44.58, a P/E/G ratio of 2.50 and a beta of 1.65. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALBGet Free Report) last announced its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm earned $10.32 earnings per share. The firm’s quarterly revenue was down 47.3% compared to the same quarter last year. As a group, equities research analysts predict that Albemarle Co. will post 2.49 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.31%. Albemarle’s dividend payout ratio (DPR) is 58.18%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wolfe Research assumed coverage on Albemarle in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Berenberg Bank raised Albemarle from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $160.00 in a research note on Thursday, April 11th. Wells Fargo & Company raised their price objective on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Vertical Research downgraded Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price objective on the stock. in a report on Friday, March 8th. Finally, KeyCorp reduced their price objective on Albemarle from $178.00 to $159.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Albemarle has an average rating of “Hold” and an average price target of $165.16.

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About Albemarle

(Free Report)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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