Brandywine Global Investment Management LLC Boosts Stake in Albemarle Corporation $ALB

Brandywine Global Investment Management LLC grew its stake in Albemarle Corporation (NYSE:ALB) by 79.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,595 shares of the specialty chemicals company’s stock after acquiring an additional 36,046 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Albemarle were worth $11,541,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ALB. Strategic Advocates LLC bought a new stake in Albemarle during the third quarter valued at about $25,000. MH & Associates Securities Management Corp ADV purchased a new stake in shares of Albemarle during the fourth quarter valued at about $26,000. BOKF NA lifted 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 valued at $33,000 after buying an additional 404 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of Albemarle in the 4th quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 483 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the sale, the chief executive officer owned 87,519 shares of the company’s stock, valued at $16,078,990.68. The trade was a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

Albemarle Trading Up 1.8%

Shares of Albemarle stock opened at $152.59 on Wednesday. The firm’s 50 day simple moving average is $182.51 and its two-hundred day simple moving average is $166.49. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of -44.75, a PEG ratio of 0.76 and a beta of 1.30. Albemarle Corporation has a 12-month low of $55.90 and a 12-month high of $221.00. 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 (NYSE:ALB) last posted its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, topping 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted ($0.18) earnings per share. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. Analysts predict that Albemarle Corporation will post 12.39 EPS for the current year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. Albemarle’s dividend payout ratio is currently -47.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALB shares. Morgan Stanley increased their target price on shares of Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Citigroup upped their price target on Albemarle from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Truist Financial increased their price objective on Albemarle from $245.00 to $260.00 and gave the company a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada raised their price objective on Albemarle from $253.00 to $257.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Finally, UBS Group boosted their target price on Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given 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, the company has an average rating of “Moderate Buy” and an average price target of $203.04.

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.