Albemarle Co. (NYSE:ALB) Shares Purchased by Simplicity Solutions LLC

Posted by on Apr 24th, 2023

Simplicity Solutions LLC increased its position in shares of Albemarle Co. (NYSE:ALB – Get Rating) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,327 shares of the specialty chemicals company’s stock after purchasing an additional 118 shares during the quarter. Simplicity Solutions LLC’s holdings in Albemarle were worth $288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Albemarle by 51.2% during the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Albemarle during the third quarter worth about $37,000. Trustcore Financial Services LLC lifted its holdings in shares of Albemarle by 49.0% during the third quarter. Trustcore Financial Services LLC now owns 149 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 49 shares during the period. Tompkins Financial Corp lifted its holdings in shares of Albemarle by 50.0% during the fourth quarter. Tompkins Financial Corp now owns 150 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 50 shares during the period. Finally, Arlington Partners LLC acquired a new position in Albemarle in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.24% of the company’s stock.

Insiders Place Their Bets

In other Albemarle news, CFO Scott Tozier sold 5,700 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $251.40, for a total transaction of $1,432,980.00. Following the transaction, the chief financial officer now owns 69,503 shares of the company’s stock, valued at $17,473,054.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALB shares. Deutsche Bank Aktiengesellschaft decreased their price target on Albemarle from $325.00 to $240.00 and set a “buy” rating for the company in a report on Thursday. Oppenheimer boosted their price target on Albemarle from $497.00 to $498.00 and gave the company an “outperform” rating in a report on Friday, February 17th. Loop Capital boosted their price target on Albemarle from $397.00 to $403.00 in a report on Friday, March 17th. BMO Capital Markets boosted their price target on Albemarle from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, February 17th. Finally, Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $275.00 price objective for the company in a research report on Wednesday, January 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $293.50.

Albemarle Stock Performance

NYSE ALB opened at $173.75 on Monday. The stock’s fifty day moving average is $227.68 and its two-hundred day moving average is $249.78. The firm has a market capitalization of $20.38 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 1.89. Albemarle Co. has a fifty-two week low of $171.82 and a fifty-two week high of $334.55.

Albemarle (NYSE:ALB – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The specialty chemicals company reported $8.62 earnings per share for the quarter, topping analysts’ consensus estimates of $8.46 by $0.16. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.60 billion. Albemarle had a return on equity of 37.63% and a net margin of 36.75%. The firm’s revenue for the quarter was up 193.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, research analysts anticipate that Albemarle Co. will post 26.61 earnings per share for the current year.

Albemarle Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 17th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. This is a positive change from Albemarle’s previous quarterly dividend of $0.40. Albemarle’s payout ratio is 7.01%.

Albemarle Company Profile

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Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following business segments: Lithium, Bromine, Catalysts, and All Other.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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