Peregrine Investment Management Inc. Sells 12,890 Shares of Albemarle Corporation $ALB

Key Points

• Peregrine Investment Management cut its Albemarle stake by 17.2% in the fourth quarter, selling 12,890 shares and leaving it with 62,110 shares worth about $8.8 million.
• Albemarle posted strong quarterly results, with EPS of $2.95 versus $1.24 expected and revenue of $1.43 billion, up 32.7% from a year earlier.
• Wall Street sentiment remains bullish, as multiple firms raised price targets, and several recent reports pointed to a 26% three-month rally supported by lithium price strength and improved earnings expectations.

Peregrine Investment Management Inc. decreased its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,110 shares of the specialty chemicals company's stock after selling 12,890 shares during the period. Albemarle makes up about 5.5% of Peregrine Investment Management Inc.'s portfolio, making the stock its 8th largest position. Peregrine Investment Management Inc. owned approximately 0.05% of Albemarle worth $8,785,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. PGGM Investments raised its holdings in Albemarle by 10.8% during the third quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company's stock worth $96,080,000 after buying an additional 115,081 shares during the last quarter. Occidental Asset Management LLC purchased a new stake in shares of Albemarle in the third quarter valued at about $3,313,000. Nordea Investment Management AB purchased a new stake in shares of Albemarle in the fourth quarter valued at about $6,171,000. Altfest L J & Co. Inc. purchased a new stake in shares of Albemarle in the fourth quarter valued at about $1,055,000. Finally, Pacific Heights Asset Management LLC raised its holdings in shares of Albemarle by 53.8% in the third quarter. Pacific Heights Asset Management LLC now owns 200,000 shares of the specialty chemicals company's stock valued at $16,216,000 after purchasing an additional 70,000 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 11,783 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the completion of the sale, the chief executive officer owned 134,628 shares in the company, valued at approximately $22,995,808.68. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company's stock.

Albemarle News Roundup

Here are the key news stories impacting Albemarle this week:

• Positive Sentiment: Deutsche Bank raised its price target on Albemarle to $250 and kept a buy rating, signaling continued upside potential. Article link
• Positive Sentiment: Royal Bank of Canada lifted its target to $253 and reiterated outperform, while Jefferies and Argus also boosted targets, reinforcing a bullish Street view. Article link
• Positive Sentiment: Zacks added ALB to its Rank #1 Strong Buy list and highlighted strong earnings estimate revisions and momentum strength. Article link
• Positive Sentiment: Recent commentary points to Albemarle’s 26% three-month rally, supported by lithium price tailwinds, solid demand, and an improved earnings outlook. Article link
• Neutral Sentiment: Several articles simply note elevated investor attention and compare ALB’s performance with the broader basic materials sector, without adding a major new catalyst. Article link

Albemarle Stock Performance

NYSE ALB opened at $205.66 on Wednesday. Albemarle Corporation has a 52-week low of $53.70 and a 52-week high of $221.00. The company has a 50-day simple moving average of $180.77 and a 200 day simple moving average of $156.80. 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 company has a market capitalization of $24.25 billion, a PE ratio of -60.31, a price-to-earnings-growth ratio of 1.42 and a beta of 1.36.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted ($0.18) earnings per share. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. On average, research analysts predict that Albemarle Corporation will post 9.22 EPS for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, June 12th. Albemarle's dividend payout ratio (DPR) is -47.51%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALB. Royal Bank Of Canada increased their target price on shares of Albemarle from $245.00 to $253.00 and gave the company an "outperform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Albemarle from $210.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday. UBS Group increased their target price on shares of Albemarle from $230.00 to $264.00 and gave the company a "buy" rating in a report on Friday. Bank of America increased their target price on shares of Albemarle from $190.00 to $225.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, Morgan Stanley increased their target price on shares of Albemarle from $170.00 to $189.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $194.13.

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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