Dimensional Fund Advisors LP Sells 370,504 Shares of Albemarle Corporation $ALB

Dimensional Fund Advisors LP reduced its stake in Albemarle Corporation (NYSE:ALB) by 25.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,078,856 shares of the specialty chemicals company’s stock after selling 370,504 shares during the period. Dimensional Fund Advisors LP’s holdings in Albemarle were worth $193,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ALB. Norges Bank bought a new stake in Albemarle during the fourth quarter worth $165,271,000. Phoenix Financial Ltd. bought a new position in shares of Albemarle in the 4th quarter valued at $130,415,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Albemarle by 4,338.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 738,430 shares of the specialty chemicals company’s stock worth $104,444,000 after buying an additional 721,793 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Albemarle by 22,047.4% during the 2nd quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock worth $44,613,000 after buying an additional 710,589 shares during the last quarter. Finally, Samlyn Capital LLC bought a new stake in shares of Albemarle during the 3rd quarter worth $47,088,000. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In related news, CEO J Kent Masters sold 16,393 shares of the company’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 sale, the chief executive officer directly owned 87,519 shares in the company, valued at approximately $16,078,990.68. This represents a 15.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Albemarle Price Performance

Shares of NYSE:ALB opened at $114.88 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The stock has a market cap of $13.55 billion, a PE ratio of -33.69 and a beta of 1.34. The stock’s fifty day simple moving average is $148.42 and its two-hundred day simple moving average is $167.23. Albemarle Corporation has a 1-year low of $64.95 and a 1-year high of $221.00.

Albemarle (NYSE:ALB) last posted its quarterly earnings data 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. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm’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. As a group, analysts forecast that Albemarle Corporation will post 12.86 EPS for the current fiscal year.

Albemarle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $0.41 dividend. The ex-dividend date is Friday, September 11th. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. This represents a $1.64 annualized dividend and a dividend yield of 1.4%. Albemarle’s dividend payout ratio is -48.09%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALB shares. Argus raised their target price on shares of Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Mizuho dropped their price target on shares of Albemarle from $205.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of Albemarle from a “buy” rating to a “strong-buy” rating in a report on Monday, July 13th. Citigroup raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, June 18th. Finally, Jefferies Financial Group decreased their price objective on Albemarle from $244.00 to $211.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Fifteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Albemarle has a consensus rating of “Moderate Buy” and a consensus target price of $199.87.

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.