In a recent transaction, John Clarence Barichivich III, the Vice President, Controller & Chief Accounting Officer of Albemarle Corp (NYSE:ALB), sold 1,475 shares of the company’s common stock. The transaction, which took place on May 13, 2024, was valued at nearly $195,000, with the shares sold at a weighted average price of $132.17 each.
The sale occurred in multiple transactions with prices ranging from $132.14 to $132.24 per share. Following the sale, Barichivich's direct holdings in the company totaled 4,743 shares. Additionally, it was noted that he indirectly owns 1,232.3 shares through the Albemarle Corporation Retirement Savings Plan, as of the date of the filing.
Investors often monitor insider transactions as they can provide insights into the company's financial health and future prospects. The transactions of Albemarle Corp executives are closely watched, especially considering the company's position in the specialty chemicals market.
Albemarle Corp, headquartered in Charlotte, North Carolina, is known for its work in plastics, materials, synthetic resins, and non-vulcanizable elastomers. The company's stock performance and insider transactions are of significant interest to shareholders and potential investors alike.
The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission. The filing provides transparency into the trading activities of company insiders, ensuring that shareholders and the investing public are well-informed of such significant transactions.
InvestingPro Insights
As Albemarle Corp (NYSE:ALB) navigates the complexities of the specialty chemicals market, recent insider transactions have drawn attention. Specifically, the sale of shares by Vice President, Controller & Chief Accounting Officer John Clarence Barichivich III has signaled a moment of evaluation for investors. In light of this, several InvestingPro Tips and real-time metrics offer a clearer picture of the company's current standing.
One notable InvestingPro Tip for Albemarle is the fact that the company has raised its dividend for 30 consecutive years, which may suggest a strong commitment to returning value to shareholders. This is complemented by a further tip indicating that 6 analysts have revised their earnings upwards for the upcoming period, potentially signaling optimism about the company's future performance.
From the perspective of real-time metrics, Albemarle's Market Cap stands at 15.92B USD, with a P/E Ratio (last twelve months as of Q1 2024) of 29.46, indicating a high valuation by the market relative to earnings. Additionally, the company has experienced a Revenue Growth of -4.27% over the last twelve months as of Q1 2024, which may be of concern to investors looking for growth opportunities. However, the 3 Month Price Total Return as of day 135 of 2024 shows a strong return of 15.33%, suggesting a positive short-term investment outlook.
For investors seeking a deeper analysis, InvestingPro offers additional tips, including insights on the company's gross profit margins, net income expectations, and stock price volatility. By using the coupon code PRONEWS24, readers can gain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights into Albemarle Corp's financial health and future prospects.
With a total of 13 additional tips listed in InvestingPro, investors can gain a comprehensive understanding of Albemarle's financial landscape, helping them make more informed decisions. The next earnings date for Albemarle is scheduled for July 31, 2024, which will provide further clarity on the company's performance and strategic direction.
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