15,776 Shares in Albemarle Corporation $ALB Acquired by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in shares of Albemarle Corporation (NYSE:ALB) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,776 shares of the specialty chemicals company’s stock, valued at approximately $2,832,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MH & Associates Securities Management Corp ADV acquired a new position in shares of Albemarle during the 4th quarter worth $26,000. BOKF NA raised its holdings in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Albemarle in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 483 shares during the last quarter. Finally, Torren Management LLC bought a new stake in Albemarle in the fourth quarter worth $38,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

NYSE:ALB opened at $114.88 on Monday. The firm’s 50-day moving average is $148.42 and its 200-day moving average is $167.38. Albemarle Corporation has a 52-week low of $64.95 and a 52-week high of $221.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The company has a market cap of $13.55 billion, a price-to-earnings ratio of -33.69 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 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities research analysts anticipate that Albemarle Corporation will post 12.86 earnings per share for the current year.

Albemarle Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $0.41 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.64 annualized dividend and a yield of 1.4%. Albemarle’s payout ratio is currently -47.51%.

Analyst Upgrades and Downgrades

Several research firms have commented on ALB. Berenberg Bank increased their target price on shares of Albemarle from $153.00 to $192.00 and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group reduced their price target on Albemarle from $244.00 to $211.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a research note on Tuesday, May 26th. Argus increased their price objective on Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Albemarle from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 13th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Albemarle presently has a consensus rating of “Moderate Buy” and an average target price of $199.87.

Insider Activity at Albemarle

In other Albemarle 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 completion of the sale, the chief executive officer owned 87,519 shares in the company, 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 can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Albemarle Profile

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.