9,957 Shares in Albemarle Corporation $ALB Purchased by Level Wealth Management LLC

Level Wealth Management LLC bought a new stake in Albemarle Corporation (NYSE:ALB) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,957 shares of the specialty chemicals company’s stock, valued at approximately $1,792,000. Albemarle comprises about 0.8% of Level Wealth Management LLC’s holdings, making the stock its 18th biggest holding.

A number of other large investors have also recently bought and sold shares of ALB. MH & Associates Securities Management Corp ADV acquired a new position in Albemarle during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in Albemarle in the 4th quarter valued at $34,000. Torren Management LLC acquired a new stake in Albemarle in the 4th quarter valued at $38,000. Sound Income Strategies LLC lifted its position in Albemarle by 190.1% during the 1st quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 192 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in Albemarle by 121.5% during the 4th quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of ALB opened at $135.27 on Friday. The firm has a 50-day moving average of $170.05 and a 200-day moving average of $169.20. Albemarle Corporation has a one year low of $64.24 and a one year high of $221.00. The company has a market cap of $15.95 billion, a PE ratio of -39.67, a price-to-earnings-growth ratio of 0.65 and a beta of 1.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $1.24 by $1.71. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. Albemarle’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) EPS. As a group, equities analysts forecast that Albemarle Corporation will post 12.98 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 12th. Albemarle’s payout ratio is -47.51%.

Analyst Upgrades and Downgrades

ALB has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on Albemarle from $253.00 to $257.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Bank of America upped their target price on Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Vertical Research raised Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a research report on Tuesday, May 26th. Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, UBS Group boosted their price target on Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Albemarle currently has an average rating of “Moderate Buy” and a consensus target price of $199.58.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the company’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 sale, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by company insiders.

Albemarle Company 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.