Regal Partners Ltd Has $8.51 Million Stock Holdings in Albemarle Corporation $ALB

Regal Partners Ltd lifted its holdings in shares of Albemarle Corporation (NYSE:ALB) by 60.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,418 shares of the specialty chemicals company’s stock after purchasing an additional 17,823 shares during the period. Regal Partners Ltd’s holdings in Albemarle were worth $8,513,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ALB. Evexia Wealth LLC lifted its stake in Albemarle by 2.3% in the first quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company’s stock valued at $387,000 after buying an additional 47 shares during the period. Parallel Advisors LLC grew its position in shares of Albemarle by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company’s stock worth $349,000 after buying an additional 60 shares during the period. Eaton Financial Holdings Company LLC grew its position in shares of Albemarle by 1.2% during the 4th quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company’s stock worth $816,000 after buying an additional 66 shares during the period. Sigma Planning Corp increased its stake in shares of Albemarle by 2.3% in the 1st quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company’s stock valued at $530,000 after acquiring an additional 66 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Albemarle by 1.9% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company’s stock valued at $508,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

ALB opened at $113.28 on Wednesday. Albemarle Corporation has a 1-year low of $64.95 and a 1-year high of $221.00. The company has a market cap of $13.36 billion, a price-to-earnings ratio of -33.22 and a beta of 1.34. The company’s fifty day moving average price is $146.11 and its two-hundred day moving average price is $166.74. 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 (NYSE:ALB) last issued its quarterly earnings data 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 positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted ($0.18) EPS. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, analysts expect that Albemarle Corporation will post 12.86 EPS for the current fiscal year.

Albemarle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 11th. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. Albemarle’s dividend payout ratio (DPR) is presently -47.51%.

Wall Street Analyst Weigh In

ALB has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of Albemarle from $170.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Rothschild & Co Redburn cut their price objective on shares of Albemarle from $188.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Royal Bank Of Canada set a $166.00 target price on Albemarle in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, HSBC upped their price target on Albemarle from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.22.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the transaction, the chief executive officer directly owned 87,519 shares of the company’s stock, valued at approximately $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.