Albemarle (NYSE:ALB) Trading Down 3.6%

Albemarle Co. (NYSE:ALB)’s stock price traded down 3.6% on Thursday . The company traded as low as $94.88 and last traded at $96.66. 1,209,884 shares changed hands during trading, a decline of 60% from the average session volume of 3,051,202 shares. The stock had previously closed at $100.28.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $157.00 target price on shares of Albemarle in a research note on Friday, May 24th. Wolfe Research started coverage on Albemarle in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Vertical Research cut Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a research note on Friday, March 8th. Wells Fargo & Company boosted their target price on Albemarle from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Albemarle from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $155.78.

Albemarle Stock Performance

The company has a market capitalization of $11.23 billion, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 2.90 and a beta of 1.61. The business has a 50 day moving average of $117.50 and a 200 day moving average of $123.57. The company has a quick ratio of 1.91, a current ratio of 2.84 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALB) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share 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 business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business posted $10.32 earnings per share. The company’s revenue for the quarter was down 47.3% compared to the same quarter last year. On average, sell-side analysts predict that Albemarle Co. will post 2.07 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.67%. Albemarle’s payout ratio is currently 58.18%.

Insider Activity

In related news, CAO John Clarence Barichivich III sold 1,475 shares of the stock in a transaction on Monday, May 13th. The stock was 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 in the company, valued at approximately $626,882.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s 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 transaction, the chief accounting officer now owns 4,743 shares in the company, valued at $626,882.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Albemarle

A number of large investors have recently made changes to their positions in the stock. WFA Asset Management Corp bought a new stake in Albemarle during the 1st quarter valued at about $25,000. USCF Advisers LLC raised its stake in shares of Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Albemarle in the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp grew its stake in Albemarle by 2,942.9% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Finally, First Financial Corp IN purchased a new position in Albemarle during the 1st quarter worth $32,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Company Profile

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.