Financial Enhancement Group LLC Purchases New Position in Albemarle Corporation $ALB

Key Points

• Financial Enhancement Group LLC opened a new position in Albemarle during the first quarter, buying 8,452 shares valued at about $1.67 million.
• Wall Street sentiment remains constructive: several analysts raised price targets, and the stock now carries a consensus Moderate Buy rating with an average target of $202.54.
• Albemarle recently beat earnings expectations, reporting $2.95 EPS versus the expected $1.24 and revenue of $1.43 billion; the company also announced a quarterly dividend of $0.405 per share.

Financial Enhancement Group LLC purchased a new stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,452 shares of the specialty chemicals company's stock, valued at approximately $1,671,000.

A number of other large investors have also added to or reduced their stakes in ALB. AQR Capital Management LLC increased its position in Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company's stock worth $229,000 after purchasing an additional 654 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Albemarle by 26.2% during the first quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company's stock valued at $346,000 after purchasing an additional 996 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Albemarle in the 1st quarter worth $208,000. Empowered Funds LLC purchased a new position in shares of Albemarle in the 1st quarter worth $411,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock worth $36,000 after buying an additional 483 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALB shares. UBS Group upped their target price on shares of Albemarle from $230.00 to $264.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Albemarle from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Mizuho upped 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. Weiss Ratings upgraded Albemarle from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Finally, Vertical Research raised Albemarle from a "hold" rating to a "buy" rating and set a $224.00 price objective for the company in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.54.

Albemarle Price Performance

Albemarle stock opened at $147.67 on Thursday. The firm has a 50-day moving average price of $178.65 and a 200-day moving average price of $169.24. The firm has a market capitalization of $17.42 billion, a PE ratio of -43.31, a price-to-earnings-growth ratio of 0.76 and a beta of 1.30. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. Albemarle Corporation has a 12-month low of $58.85 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the company earned ($0.18) EPS. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, equities research analysts forecast that Albemarle Corporation will post 12.39 EPS for the current year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. Albemarle's dividend payout ratio is currently -47.51%.

Insider Activity at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction that occurred on 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 directly owned 87,519 shares in the company, valued at approximately $16,078,990.68. This represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company's stock.

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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