Pictet Asset Management Holding SA Sells 130,852 Shares of Albemarle Corporation $ALB

Key Points

• Pictet Asset Management trimmed its Albemarle position by 22.7% in Q4, selling 130,852 shares and leaving 444,968 shares valued at about $62.94M (≈0.38% of the company).
• Albemarle reported Q4 EPS of -$0.53, missing estimates while revenue rose 15.9% to $1.43B, leaving the company still unprofitable with a net margin of -10.74%.
• Street sentiment is mixed—consensus rating is Hold with an average price target of $178.28 despite several firms raising targets (e.g., Truist to $245, HSBC to $220); additionally CEO J. Kent Masters sold 11,783 shares for about $2.01M (insiders own 0.42%).

Pictet Asset Management Holding SA lowered its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 444,968 shares of the specialty chemicals company's stock after selling 130,852 shares during the quarter. Pictet Asset Management Holding SA owned about 0.38% of Albemarle worth $62,936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALB. Strategic Advocates LLC bought a new position in Albemarle during the third quarter worth $25,000. MH & Associates Securities Management Corp ADV bought a new position in Albemarle during the fourth quarter worth $26,000. BOKF NA grew its position in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 404 shares in the last quarter. Cromwell Holdings LLC increased its stake in Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 111 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 483 shares during the period. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

Albemarle stock opened at $187.08 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57. The stock has a fifty day moving average price of $177.51 and a two-hundred day moving average price of $150.91. Albemarle Corporation has a 52-week low of $53.70 and a 52-week high of $215.71. The firm has a market capitalization of $22.05 billion, a P/E ratio of -32.54, a P/E/G ratio of 1.43 and a beta of 1.43.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned ($1.09) earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Albemarle Corporation will post 8.72 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. Albemarle's dividend payout ratio is presently -28.17%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALB shares. Berenberg Bank set a $153.00 price objective on Albemarle in a research report on Monday, February 23rd. HSBC upped their target price on Albemarle from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Monday. Truist Financial raised their target price on Albemarle from $210.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Bank of America lifted their price target on shares of Albemarle from $190.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Finally, Morgan Stanley lifted their price target on shares of Albemarle from $170.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $178.28.

Insider Activity at Albemarle

In other news, CEO J Kent Masters sold 11,783 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the sale, the chief executive officer owned 134,628 shares in the company, valued at approximately $22,995,808.68. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.42% of the company's stock.

Albemarle 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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