Strs Ohio Boosts Holdings in Albemarle Corporation $ALB

Key Points

• STRS Ohio sharply increased its stake in Albemarle in the 4th quarter, boosting holdings by 3,309.8%—adding 93,005 shares to reach 95,815 shares worth about $13.55 million (≈0.08% ownership).
• Analysts have lifted several price targets recently (e.g., Truist to $245, Citi to $210, Deutsche Bank to $195), but the consensus remains an average "Hold" rating with a mean target of $183.
• Operational and corporate highlights: Q4 revenue rose 15.9% to $1.43B while EPS missed at ($0.53), Albemarle has a market cap of $22.87B and a negative P/E, pays a $0.405 quarterly dividend (annual $1.62, 0.8% yield), and CEO J. Kent Masters sold ~11,783 shares.

Strs Ohio raised its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 3,309.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,815 shares of the specialty chemicals company's stock after buying an additional 93,005 shares during the quarter. Strs Ohio owned approximately 0.08% of Albemarle worth $13,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Danske Bank A S grew its holdings in shares of Albemarle by 15.8% during the 4th quarter. Danske Bank A S now owns 2,200 shares of the specialty chemicals company's stock worth $311,000 after purchasing an additional 300 shares during the period. Opes Wealth Management LLC grew its holdings in shares of Albemarle by 20.5% during the 4th quarter. Opes Wealth Management LLC now owns 9,198 shares of the specialty chemicals company's stock worth $1,301,000 after purchasing an additional 1,567 shares during the period. Sigma Planning Corp purchased a new stake in shares of Albemarle during the 4th quarter worth about $408,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Albemarle during the 4th quarter worth about $279,000. Finally, New York State Teachers Retirement System grew its holdings in shares of Albemarle by 0.3% during the 4th quarter. New York State Teachers Retirement System now owns 101,779 shares of the specialty chemicals company's stock worth $14,396,000 after purchasing an additional 259 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALB. Deutsche Bank Aktiengesellschaft boosted their target price on Albemarle from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Citigroup boosted their target price on Albemarle from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Tuesday, April 21st. Robert W. Baird reiterated a "neutral" rating and set a $210.00 target price on shares of Albemarle in a report on Friday, April 17th. Truist Financial boosted their target price on Albemarle from $210.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Finally, Mizuho boosted their target price on Albemarle from $156.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, February 12th. Thirteen research 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. According to data from MarketBeat.com, Albemarle has an average rating of "Hold" and an average target price of $183.00.

Albemarle Stock Up 0.0%

NYSE ALB opened at $193.96 on Monday. The stock has a market cap of $22.87 billion, a PE ratio of -33.73, a P/E/G ratio of 1.39 and a beta of 1.36. Albemarle Corporation has a fifty-two week low of $53.70 and a fifty-two week high of $215.71. The business has a 50 day moving average price of $178.48 and a two-hundred day moving average price of $152.29. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41.

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

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, March 13th. Albemarle's dividend payout ratio is currently -28.17%.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the transaction, the chief executive officer owned 134,628 shares in the company, valued at $22,995,808.68. This represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate 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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