Catalyst Funds Management Pty Ltd Has $4.62 Million Position in Albemarle Corporation $ALB

Catalyst Funds Management Pty Ltd lessened its holdings in shares of Albemarle Corporation (NYSE:ALB) by 12.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 32,640 shares of the specialty chemicals company’s stock after selling 4,460 shares during the period. Albemarle comprises approximately 1.1% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 11th biggest position. Catalyst Funds Management Pty Ltd’s holdings in Albemarle were worth $4,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC raised its position in Albemarle by 1.9% during the fourth 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 in the last quarter. Assetmark Inc. raised its position in shares of Albemarle by 10.9% in the fourth quarter. Assetmark Inc. now owns 782 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 77 shares during the period. Quotient Wealth Partners LLC raised its position in shares of Albemarle by 2.8% in the fourth quarter. Quotient Wealth Partners LLC now owns 3,163 shares of the specialty chemicals company’s stock valued at $447,000 after purchasing an additional 85 shares during the period. Per Stirling Capital Management LLC. raised its position in shares of Albemarle by 2.8% in the third quarter. Per Stirling Capital Management LLC. now owns 3,332 shares of the specialty chemicals company’s stock valued at $270,000 after purchasing an additional 91 shares during the period. Finally, Signaturefd LLC raised its position in shares of Albemarle by 7.8% in the fourth quarter. Signaturefd LLC now owns 1,402 shares of the specialty chemicals company’s stock valued at $198,000 after purchasing an additional 102 shares during the period. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction on Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the sale, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. The trade was a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Albemarle Stock Up 1.1%

ALB opened at $171.78 on Friday. Albemarle Corporation has a fifty-two week low of $53.70 and a fifty-two week high of $221.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21. The firm’s fifty day moving average price is $182.54 and its two-hundred day moving average price is $160.88. The company has a market capitalization of $20.26 billion, a P/E ratio of -50.38, a P/E/G ratio of 0.86 and a beta of 1.36.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share 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 firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The business’s revenue was up 32.7% compared to the same quarter last year. On average, analysts anticipate that Albemarle Corporation will post 12.45 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. Albemarle’s payout ratio is currently -47.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore lifted their price target on shares of Albemarle from $100.00 to $180.00 in a research report on Wednesday, February 18th. HSBC lifted their price target on shares of Albemarle from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, April 27th. UBS Group raised their price objective on shares of Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Berenberg Bank set a $153.00 price objective on shares of Albemarle in a research note on Monday, February 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Albemarle from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.26.

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.