CPC Advisors LLC Takes Position in Albemarle Corporation $ALB

Key Points

• CPC Advisors LLC initiated a new position in Albemarle during the first quarter, buying 8,929 shares valued at about $1.6 million.
• Wall Street sentiment on Albemarle is generally positive, with several analysts raising ratings or price targets and the stock carrying a consensus Moderate Buy rating and an average price target of $202.54.
• Albemarle recently posted strong quarterly results, with EPS of $2.95 beating estimates and revenue rising 32.7% year over year, while also declaring a quarterly dividend of $0.405 per share.

CPC Advisors LLC bought a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 8,929 shares of the specialty chemicals company's stock, valued at approximately $1,603,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALB. Earnest Partners LLC lifted its position in Albemarle by 14.6% during the fourth quarter. Earnest Partners LLC now owns 1,630,394 shares of the specialty chemicals company's stock valued at $230,603,000 after buying an additional 207,770 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Albemarle by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,475,832 shares of the specialty chemicals company's stock worth $119,710,000 after acquiring an additional 52,698 shares in the last quarter. Northern Trust Corp increased its position in shares of Albemarle by 1.8% in the third quarter. Northern Trust Corp now owns 1,263,734 shares of the specialty chemicals company's stock worth $102,464,000 after acquiring an additional 22,856 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Albemarle by 57.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,241,106 shares of the specialty chemicals company's stock valued at $175,542,000 after acquiring an additional 453,881 shares during the period. Finally, Norges Bank purchased a new position in shares of Albemarle in the 4th quarter valued at $165,271,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALB shares. Zacks Research raised shares of Albemarle from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Mizuho raised their price objective on Albemarle from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Citigroup upgraded Albemarle from a "neutral" rating to a "buy" rating and set a $225.00 price objective on the stock in a research note on Thursday. Rothschild & Co Redburn downgraded Albemarle from a "buy" rating to a "neutral" rating and set a $188.00 target price for the company. in a research report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Albemarle from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.54.

Albemarle Price Performance

ALB opened at $160.13 on Monday. Albemarle Corporation has a twelve month low of $55.90 and a twelve month high of $221.00. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of -46.96, a PEG ratio of 0.81 and a beta of 1.31. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $180.19 and a 200 day simple moving average of $168.68.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $1.71. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) EPS. Equities research analysts expect that Albemarle Corporation will post 12.39 EPS for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. Albemarle's dividend payout ratio is currently -47.51%.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the sale, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This trade represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company's stock.

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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