Albemarle Corporation (ALB) To Go Ex-Dividend on June 12th

Albemarle Corporation (NYSE:ALB) declared a quarterly dividend on Tuesday, May 5th. Shareholders of record on Friday, June 12th will be paid a dividend of 0.405 per share by the specialty chemicals company on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 12th.

Albemarle has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 30 years. Albemarle has a payout ratio of 216.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Albemarle to earn $12.64 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 12.8%.

Albemarle Stock Performance

Shares of NYSE ALB opened at $152.59 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $182.51 and its two-hundred day moving average price is $166.49. Albemarle has a 52-week low of $55.90 and a 52-week high of $221.00. The stock has a market capitalization of $18.00 billion, a P/E ratio of -44.75, a P/E/G ratio of 0.76 and a beta of 1.30.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company posted ($0.18) earnings per share. Albemarle’s revenue was up 32.7% on a year-over-year basis. As a group, sell-side analysts forecast that Albemarle will post 12.39 earnings per share for the current year.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Strategic Advocates LLC acquired a new position in shares of Albemarle during the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new position in Albemarle in the fourth quarter worth approximately $26,000. BOKF NA grew its position in Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Albemarle in the fourth quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its position in Albemarle by 536.7% in the second 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. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.