Virtu Financial LLC Makes New $2.36 Million Investment in Albemarle Corporation $ALB

Virtu Financial LLC bought a new stake in shares of Albemarle Corporation (NYSE:ALB) during the 4th quarter, HoldingsChannel reports. The firm bought 16,686 shares of the specialty chemicals company’s stock, valued at approximately $2,360,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Advocates LLC acquired a new stake in Albemarle in the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV purchased a new stake in shares of Albemarle during the fourth quarter valued at approximately $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 worth $33,000 after purchasing an additional 404 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of Albemarle during the fourth quarter worth $34,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 483 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALB shares. HSBC raised their price target on shares of Albemarle from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, April 27th. Mizuho boosted their price objective on shares of Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Scotiabank upped their price objective on shares of Albemarle from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Robert W. Baird lowered their target price on Albemarle from $236.00 to $224.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, UBS Group lifted their target price on Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.54.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the business’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 completion of the sale, the chief executive officer directly owned 87,519 shares in the company, valued at approximately $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

Albemarle Price Performance

ALB opened at $160.13 on Friday. The company has a market capitalization of $18.88 billion, a P/E ratio of -46.96, a PEG ratio of 0.81 and a beta of 1.30. The company has a 50-day moving average of $180.19 and a 200-day moving average of $168.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. Albemarle Corporation has a 1-year low of $55.90 and a 1-year high of $221.00.

Albemarle (NYSE:ALB) last issued its quarterly earnings results 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. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) earnings per share. Equities analysts expect that Albemarle Corporation will post 12.39 EPS for the current fiscal year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $0.405 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.0%. Albemarle’s dividend payout ratio (DPR) is presently -47.51%.

About Albemarle

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.