Manning & Napier Advisors LLC Cuts Stake in Albemarle Corporation $ALB

Key Points

• Manning & Napier Advisors LLC cut its Albemarle stake by 31.8% in the fourth quarter, but still held 1.09 million shares worth about $154.6 million, making ALB its 13th largest holding.
• Albemarle reported strong Q1 results, with EPS of $2.95 topping estimates by a wide margin and revenue of $1.43 billion beating expectations, helped by stronger lithium pricing and volumes.
• Analyst sentiment has improved, with several firms raising price targets and Albemarle declaring a quarterly dividend of $0.405 per share, payable July 1.

Manning & Napier Advisors LLC reduced its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 31.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,088,523 shares of the specialty chemicals company's stock after selling 508,194 shares during the period. Albemarle comprises approximately 2.0% of Manning & Napier Advisors LLC's portfolio, making the stock its 13th biggest holding. Manning & Napier Advisors LLC owned about 0.92% of Albemarle worth $154,581,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Chesapeake Capital Corp IL purchased a new stake in shares of Albemarle in the 4th quarter valued at $391,000. Ethic Inc. raised its position in Albemarle by 32.2% in the 4th quarter. Ethic Inc. now owns 26,679 shares of the specialty chemicals company's stock worth $3,773,000 after purchasing an additional 6,503 shares during the period. Sound Financial Strategies Group LLC bought a new stake in Albemarle in the fourth quarter worth $724,000. International Assets Investment Management LLC purchased a new stake in Albemarle during the fourth quarter valued at about $275,000. Finally, MGO One Seven LLC boosted its position in Albemarle by 7.5% during the fourth quarter. MGO One Seven LLC now owns 8,199 shares of the specialty chemicals company's stock valued at $1,160,000 after buying an additional 574 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO J Kent Masters sold 11,783 shares of Albemarle stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23. Following the sale, the chief executive officer owned 134,628 shares in the company, valued at $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. 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 company insiders.

Albemarle Stock Up 2.7%

NYSE ALB opened at $203.72 on Friday. Albemarle Corporation has a 1 year low of $53.70 and a 1 year high of $221.00. The stock has a market capitalization of $24.02 billion, a PE ratio of -59.74, a PEG ratio of 1.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.57. The business's 50-day moving average is $179.56 and its 200 day moving average is $154.41.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The business's revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) EPS. Sell-side analysts forecast that Albemarle Corporation will post 8.72 earnings per share for the current 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 paid 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 0.8%. Albemarle's dividend payout ratio (DPR) is presently -47.51%.

Albemarle News Roundup

Here are the key news stories impacting Albemarle this week:

• Positive Sentiment: Citigroup raised its price target on Albemarle to $225 from $210, suggesting further upside potential even though the rating remained neutral. Benzinga report on Citigroup target hike
• Positive Sentiment: Multiple analysts increased price targets this week, including Wells Fargo, Robert W. Baird, and Mizuho, signaling improving sentiment toward Albemarle’s outlook. Tickerreport.com
• Positive Sentiment: Albemarle beat Q1 estimates with EPS of $2.95 versus $1.24 expected, while revenue also topped forecasts, driven by stronger lithium pricing and volumes. Zacks value-stock article
• Positive Sentiment: Coverage around the earnings call highlighted strong momentum, reinforcing the view that Albemarle’s operating trends improved meaningfully in the quarter. TipRanks earnings call summary
• Neutral Sentiment: One article compared Albemarle with LyondellBasell from a value-investing perspective, but it was more of a relative valuation discussion than a direct catalyst. Zacks comparison article

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALB. Berenberg Bank set a $153.00 price objective on Albemarle in a report on Monday, February 23rd. HSBC raised their price target on Albemarle from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Oppenheimer lifted 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. Royal Bank Of Canada boosted their price objective on Albemarle from $216.00 to $245.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Argus raised their target price on shares of Albemarle from $140.00 to $185.00 in a report on Monday, February 23rd. Thirteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $189.04.

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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