Koss Olinger Consulting LLC Decreases Position in Albemarle Corporation $ALB

Koss Olinger Consulting LLC lessened its holdings in shares of Albemarle Corporation (NYSE:ALB) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,266 shares of the specialty chemicals company’s stock after selling 3,243 shares during the period. Koss Olinger Consulting LLC’s holdings in Albemarle were worth $1,593,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALB. Strategic Advocates LLC purchased a new stake in shares of Albemarle during the 3rd quarter valued at $25,000. MH & Associates Securities Management Corp ADV purchased a new stake in shares of Albemarle during the 4th quarter valued at $26,000. BOKF NA lifted its holdings in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Albemarle during the 4th quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

NYSE ALB opened at $176.26 on Friday. The stock has a 50-day simple moving average of $183.76 and a two-hundred day simple moving average of $163.76. The firm has a market capitalization of $20.79 billion, a P/E ratio of -51.69, a PEG ratio of 0.89 and a beta of 1.36. Albemarle Corporation has a fifty-two week low of $53.70 and a fifty-two week high of $221.00. 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 (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, beating analysts’ consensus estimates of $1.24 by $1.71. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) EPS. On average, equities analysts forecast that Albemarle Corporation will post 12.39 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 12th. Albemarle’s payout ratio is currently -47.51%.

Insider Buying and Selling at Albemarle

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 value of $3,011,721.96. Following the completion of the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALB shares. Wall Street Zen upgraded Albemarle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Citigroup raised their target price on Albemarle from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Argus raised their target price on Albemarle from $185.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.42.

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.