Albemarle Corporation $ALB Position Lifted by Patton Fund Management Inc.

Key Points

• Patton Fund Management raised its stake in Albemarle by 1,400% in Q4, acquiring 42,266 shares to hold 45,285 shares worth about $6.405 million, while institutional investors now own roughly 92.87% of ALB.
• CEO J. Kent Masters sold 11,783 shares on March 10 at an average price of $170.81 for about $2.01 million, reducing his position by 8.05%; company insiders own just 0.42% of the stock.
• Analysts have a consensus "Moderate Buy" on ALB with a $171.84 target amid mixed upgrades and downgrades (targets range roughly $145–$230); the stock opened at $185.05, recently rose about 6.6%, and posted a quarterly EPS miss despite revenue growth.

Patton Fund Management Inc. raised its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 1,400.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,285 shares of the specialty chemicals company's stock after acquiring an additional 42,266 shares during the quarter. Patton Fund Management Inc.'s holdings in Albemarle were worth $6,405,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALB. Strategic Advocates LLC bought a new position in Albemarle during the 3rd quarter valued at $25,000. MH & Associates Securities Management Corp ADV bought a new position in Albemarle during the 4th quarter valued at $26,000. BOKF NA boosted its stake in Albemarle by 5,771.4% during the 3rd 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 last quarter. Cromwell Holdings LLC boosted its stake in Albemarle by 36.8% during the 3rd 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 last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Albemarle by 536.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 483 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Activity at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 134,628 shares in the company, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ALB shares. JPMorgan Chase & Co. reduced their price target on shares of Albemarle from $195.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, February 13th. Jefferies Financial Group raised their price target on shares of Albemarle from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Bank of America upgraded shares of Albemarle from a "neutral" rating to a "buy" rating and raised their price target for the stock from $167.00 to $190.00 in a research report on Tuesday, February 17th. HSBC upgraded shares of Albemarle from a "hold" rating to a "buy" rating and set a $200.00 price target on the stock in a research report on Monday, January 19th. Finally, Evercore raised their price target on shares of Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.84.

Albemarle Stock Up 6.6%

ALB stock opened at $185.05 on Tuesday. Albemarle Corporation has a 52 week low of $50.85 and a 52 week high of $206.00. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of -32.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.43. The firm's 50-day moving average is $171.21 and its two-hundred day moving average is $142.70. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted ($1.09) earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. Albemarle's payout ratio is -28.17%.

Albemarle Company Profile

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.

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