Decker Retirement Planning Inc. Makes New Investment in Albemarle Corporation $ALB

Key Points

• Decker Retirement Planning Inc. opened a new position in Albemarle during the first quarter, buying 21,754 shares valued at about $3.9 million. The stake makes Albemarle about 1.8% of the firm’s portfolio.
• Several other institutional investors also increased their holdings, and 92.87% of Albemarle stock is owned by institutions. Insider ownership remains low at 0.42%.
• Albemarle beat quarterly earnings expectations, reporting $2.95 per share versus the $1.24 estimate and revenue of $1.43 billion, up 32.7% year over year. Analysts currently rate the stock a “Moderate Buy,” with a consensus target price of $202.54.

Decker Retirement Planning Inc. acquired a new stake in Albemarle Corporation (NYSE:ALB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,754 shares of the specialty chemicals company's stock, valued at approximately $3,905,000. Albemarle accounts for approximately 1.8% of Decker Retirement Planning Inc.'s investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds also recently made changes to their positions in ALB. Evexia Wealth LLC increased its holdings in Albemarle by 2.3% during the first quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company's stock worth $387,000 after buying an additional 47 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Albemarle by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company's stock worth $349,000 after purchasing an additional 60 shares during the last quarter. Eaton Financial Holdings Company LLC increased its stake in shares of Albemarle by 1.2% during the 4th quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company's stock worth $816,000 after purchasing an additional 66 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Albemarle by 1.9% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company's stock worth $508,000 after purchasing an additional 67 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Albemarle by 10.9% in the 4th quarter. Assetmark Inc. now owns 782 shares of the specialty chemicals company's stock worth $111,000 after purchasing an additional 77 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALB. UBS Group increased their price objective on Albemarle from $230.00 to $264.00 and gave the company a "buy" rating in a report on Friday, May 8th. Weiss Ratings upgraded Albemarle from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Thursday, May 7th. Berenberg Bank upped their price target on Albemarle from $153.00 to $192.00 and gave the company a "hold" rating in a research report on Tuesday, June 2nd. Oppenheimer increased their price target on Albemarle from $216.00 to $222.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Albemarle from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Albemarle currently has an average rating of "Moderate Buy" and a consensus target price of $202.54.

Albemarle Stock Down 4.8%

Shares of NYSE:ALB opened at $140.76 on Friday. The firm has a fifty day moving average price of $177.67 and a two-hundred day moving average price of $169.35. The company has a market cap of $16.60 billion, a price-to-earnings ratio of -41.28, a PEG ratio of 0.71 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21. Albemarle Corporation has a one year low of $60.64 and a one year high of $221.00.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping 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 firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The business's quarterly revenue was up 32.7% on a year-over-year basis. Analysts anticipate that Albemarle Corporation will post 12.98 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 12th. Albemarle's dividend payout ratio is currently -47.51%.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $183.72, for a total value of $3,011,721.96. Following the sale, the chief executive officer owned 87,519 shares of the company's stock, valued at $16,078,990.68. This trade represents a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by insiders.

About Albemarle

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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