Sicart Associates LLC Reduces Holdings in Albemarle Corporation $ALB

Sicart Associates LLC lowered its position in shares of Albemarle Corporation (NYSE:ALB) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,902 shares of the specialty chemicals company’s stock after selling 3,410 shares during the period. Albemarle comprises about 1.8% of Sicart Associates LLC’s holdings, making the stock its 21st largest position. Sicart Associates LLC’s holdings in Albemarle were worth $6,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALB. Strategic Advocates LLC acquired a new position in Albemarle during the third quarter worth approximately $25,000. BOKF NA boosted its holdings in shares of Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 404 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of Albemarle by 36.8% in the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Albemarle by 536.7% during the second 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. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Albemarle in the 3rd quarter valued at $40,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB opened at $179.33 on Friday. The stock has a market capitalization of $21.14 billion, a P/E ratio of -31.19, a P/E/G ratio of 1.38 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $206.00. The company’s fifty day moving average is $171.85 and its two-hundred day moving average is $134.78.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). The firm 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 0.41% and a negative net margin of 10.74%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted ($1.09) EPS. On average, sell-side analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 13th. Albemarle’s payout ratio is currently -28.17%.

Insiders Place Their Bets

In other news, CEO J Kent Masters sold 11,783 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the transaction, the chief executive officer directly owned 134,628 shares of the company’s stock, valued at $22,995,808.68. This represents a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALB. Stephens reiterated an “outperform” rating on shares of Albemarle in a research report on Friday, December 19th. Oppenheimer lifted their price objective on shares of Albemarle from $109.00 to $207.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Wells Fargo & Company set a $165.00 target price on shares of Albemarle in a report on Monday, February 16th. Scotiabank upgraded shares of Albemarle from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $85.00 to $200.00 in a research note on Monday, January 12th. Finally, Royal Bank Of Canada raised their price target on Albemarle from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Albemarle presently has an average rating of “Moderate Buy” and a consensus target price of $170.24.

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.