Albemarle Corporation $ALB Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in Albemarle Corporation (NYSE:ALB) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,125 shares of the specialty chemicals company’s stock after selling 12,751 shares during the period. Janus Henderson Group PLC owned about 0.10% of Albemarle worth $21,030,000 at the end of the most recent reporting period.

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

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the transaction, the chief executive officer directly owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company’s stock.

Albemarle Price Performance

ALB opened at $118.54 on Tuesday. The stock has a fifty day moving average price of $141.79 and a 200 day moving average price of $165.35. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. Albemarle Corporation has a 1 year low of $66.67 and a 1 year high of $221.00. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of -34.76 and a beta of 1.33.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts forecast that Albemarle Corporation will post 12.79 EPS for the current fiscal year.

Albemarle Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALB. Bank of America lifted their target price on shares of Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. HSBC lifted their price objective on shares of Albemarle from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group decreased their target price 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 raised Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a research report on Tuesday, May 26th. Finally, Scotiabank reissued an “outperform” rating on shares of Albemarle in a research note on Tuesday, July 28th. Fifteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Albemarle currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.22.

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.