Wealth Enhancement Advisory Services LLC Sells 1,989 Shares of Albemarle Co. (NYSE:ALB)

Wealth Enhancement Advisory Services LLC reduced its position in Albemarle Co. (NYSE:ALBFree Report) by 14.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,958 shares of the specialty chemicals company’s stock after selling 1,989 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Albemarle were worth $1,575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Albemarle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,083,522 shares of the specialty chemicals company’s stock valued at $2,034,787,000 after purchasing an additional 82,874 shares during the period. Capital Research Global Investors raised its holdings in Albemarle by 128.5% during the 4th quarter. Capital Research Global Investors now owns 7,076,357 shares of the specialty chemicals company’s stock valued at $1,022,420,000 after acquiring an additional 3,979,885 shares during the period. Capital International Investors lifted its position in shares of Albemarle by 31.7% during the fourth quarter. Capital International Investors now owns 5,800,219 shares of the specialty chemicals company’s stock worth $838,025,000 after acquiring an additional 1,396,624 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Albemarle by 47.4% in the fourth quarter. Franklin Resources Inc. now owns 5,185,734 shares of the specialty chemicals company’s stock worth $749,235,000 after acquiring an additional 1,667,164 shares during the period. Finally, Primecap Management Co. CA grew its position in shares of Albemarle by 55.8% in the fourth quarter. Primecap Management Co. CA now owns 3,476,674 shares of the specialty chemicals company’s stock valued at $502,310,000 after purchasing an additional 1,245,719 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Albemarle Price Performance

ALB stock opened at $98.35 on Friday. The firm has a market cap of $11.56 billion, a P/E ratio of 35.76, a P/E/G ratio of 3.02 and a beta of 1.57. The firm’s fifty day moving average is $115.89 and its 200 day moving average is $122.08. Albemarle Co. has a 52 week low of $92.29 and a 52 week high of $247.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84.

Albemarle (NYSE:ALBGet Free Report) last announced its quarterly earnings data 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). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $10.32 earnings per share. The firm’s quarterly revenue was down 47.3% compared to the same quarter last year. Research analysts predict that Albemarle Co. will post 2.07 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, June 14th. Albemarle’s dividend payout ratio is 58.18%.

Analyst Upgrades and Downgrades

ALB has been the subject of several analyst reports. Loop Capital cut their target price on Albemarle from $168.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Vertical Research cut shares of Albemarle from a “buy” rating to a “hold” rating and set a $145.00 target price on the stock. in a research note on Friday, March 8th. Citigroup raised their price target on shares of Albemarle from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Bank of America raised shares of Albemarle from a “neutral” rating to a “buy” rating and upped their price target for the stock from $137.00 to $156.00 in a report on Wednesday, April 10th. Finally, Mizuho lifted their price objective on Albemarle from $112.00 to $128.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus price target of $155.78.

Check Out Our Latest Report on ALB

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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