KBC Group NV Reduces Stock Holdings in Albemarle Co. (NYSE:ALB)

KBC Group NV lessened its stake in Albemarle Co. (NYSE:ALBFree Report) by 47.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,659 shares of the specialty chemicals company’s stock after selling 21,318 shares during the quarter. KBC Group NV’s holdings in Albemarle were worth $3,418,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. USCF Advisers LLC boosted its stake in shares of Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of Albemarle during the fourth quarter worth about $30,000. Tyler Stone Wealth Management acquired a new position in shares of Albemarle in the third quarter worth about $35,000. VisionPoint Advisory Group LLC boosted its holdings in Albemarle by 21,400.0% in the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 214 shares during the last quarter. Finally, Assetmark Inc. grew its stake in Albemarle by 77.2% during the 4th quarter. Assetmark Inc. now owns 257 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the transaction, the senior vice president now owns 6,802 shares in the company, valued at $921,875.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were 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 in the company, valued at $626,882.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the transaction, the senior vice president now owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALB. Citigroup upped their target price on Albemarle from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Albemarle from $125.00 to $140.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. KeyCorp decreased their price objective on shares of Albemarle from $178.00 to $159.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Wolfe Research started coverage on shares of Albemarle in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Mizuho lifted their price target on Albemarle from $112.00 to $128.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and a consensus target price of $165.16.

View Our Latest Stock Analysis on ALB

Albemarle Stock Performance

ALB opened at $118.28 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $124.27 and its 200-day moving average is $125.99. The stock has a market cap of $13.90 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 2.97 and a beta of 1.61. Albemarle Co. has a twelve month low of $106.69 and a twelve month high of $247.44.

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

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.35%. Albemarle’s payout ratio is 58.18%.

Albemarle Company Profile

(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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