Park Capital Management LLC WI Buys Shares of 5,890 Albemarle Corporation $ALB

Park Capital Management LLC WI purchased a new position in shares of Albemarle Corporation (NYSE:ALB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,890 shares of the specialty chemicals company’s stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALB. Strategic Advocates LLC bought a new position in Albemarle during the third quarter worth $25,000. BOKF NA boosted its position in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 404 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 shares during the period. EverSource Wealth Advisors LLC raised its position 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 worth $36,000 after acquiring an additional 483 shares in the last quarter. Finally, Physician Wealth Advisors Inc. bought a new position in shares of Albemarle in the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the completion of the sale, the chief executive officer directly owned 134,628 shares of the company’s stock, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ALB has been the subject of several recent analyst reports. Evercore raised their target price on Albemarle from $100.00 to $180.00 in a research note on Wednesday, February 18th. Jefferies Financial Group increased their price target on Albemarle from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Wells Fargo & Company set a $165.00 price objective on shares of Albemarle in a research note on Monday, February 16th. Morgan Stanley boosted their target price on shares of Albemarle from $147.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, Rothschild & Co Redburn increased their target price on shares of Albemarle from $158.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.24.

Albemarle Price Performance

Shares of ALB opened at $178.21 on Monday. The business’s fifty day moving average is $171.82 and its 200 day moving average is $138.72. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $206.00. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The stock has a market cap of $21.01 billion, a P/E ratio of -30.99, a P/E/G ratio of 1.37 and a beta of 1.43.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted ($1.09) EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.62 annualized dividend and a yield of 0.9%. Albemarle’s dividend payout ratio (DPR) is presently -28.17%.

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.