Atlatl Advisers LLC Invests $1.78 Million in Albemarle Corporation $ALB

Key Points

• Atlatl Advisers LLC opened a new position in Albemarle during the fourth quarter, buying 12,549 shares worth about $1.78 million.
• Institutional interest in Albemarle appears strong, with 92.87% of the stock owned by hedge funds and other institutional investors, while several firms recently increased or initiated sizable stakes.
• Wall Street sentiment is broadly positive: analysts have raised price targets, and the stock now carries a Moderate Buy consensus with an average target price of $200.26.

Atlatl Advisers LLC bought a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,549 shares of the specialty chemicals company's stock, valued at approximately $1,775,000.

Other institutional investors have also modified their holdings of the company. Phoenix Financial Ltd. bought a new stake in Albemarle during the 4th quarter valued at $130,415,000. Northwestern Mutual Wealth Management Co. boosted its position in 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 valued at $104,444,000 after acquiring an additional 721,793 shares in the last quarter. AQR Capital Management LLC boosted its position in 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 valued at $44,613,000 after acquiring an additional 710,589 shares in the last quarter. Samlyn Capital LLC bought a new stake in Albemarle during the 3rd quarter valued at $47,088,000. Finally, Caisse de depot et placement du Quebec bought a new stake in Albemarle during the 3rd quarter valued at $41,239,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALB shares. Robert W. Baird upped their price target on Albemarle from $210.00 to $236.00 in a research report on Thursday, May 7th. Argus upped their price target on Albemarle from $185.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Evercore upped their price target on Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. UBS Group upped their price target on Albemarle from $230.00 to $264.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company upped their price target on Albemarle from $165.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.26.

Albemarle Price Performance

NYSE:ALB opened at $171.78 on Tuesday. Albemarle Corporation has a one year low of $53.70 and a one year high of $221.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of -50.38, a PEG ratio of 0.86 and a beta of 1.36. The firm's fifty day moving average is $182.70 and its two-hundred day moving average is $161.92.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating the consensus estimate of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm's revenue was up 32.7% on a year-over-year basis. Research analysts expect that Albemarle Corporation will post 12.45 EPS for the current year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 12th. Albemarle's dividend payout ratio is -47.51%.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

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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