Rep. Jefferson Shreve Sells Albemarle Co. (NYSE:ALB) Shares

Representative Jefferson Shreve (R-Indiana) recently sold shares of Albemarle Co. (NYSE:ALB). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Albemarle stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Albemarle Stock Performance

Albemarle stock opened at $76.40 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $8.98 billion, a PE ratio of -6.82 and a beta of 1.70. The firm has a fifty day simple moving average of $83.73 and a two-hundred day simple moving average of $91.86. Albemarle Co. has a twelve month low of $67.23 and a twelve month high of $137.50.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Research analysts expect that Albemarle Co. will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, March 14th. Albemarle’s dividend payout ratio is presently -14.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALB. Royal Bank of Canada lowered their price objective on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Citigroup cut their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets cut their price objective on shares of Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. KeyCorp cut their price objective on shares of Albemarle from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Morgan Stanley cut their price objective on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.05.

Institutional Investors Weigh In On Albemarle

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Assetmark Inc. boosted its holdings in Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 235 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 132 shares during the last quarter. Finally, Cornerstone Advisors LLC boosted its stake in shares of Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

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Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.