Decker Retirement Planning Inc. Takes Position in Albemarle Corporation $ALB

Decker Retirement Planning Inc. acquired a new position in shares of Albemarle Corporation (NYSE:ALB) in the first quarter, Holdings Channel.com reports. The fund acquired 21,754 shares of the specialty chemicals company’s stock, valued at approximately $3,905,000. Albemarle comprises about 1.8% of Decker Retirement Planning Inc.’s portfolio, making the stock its 16th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in ALB. Nordea Investment Management AB purchased a new position in shares of Albemarle in the 4th quarter worth about $6,171,000. Altfest L J & Co. Inc. purchased a new position in shares of Albemarle during the 4th quarter valued at about $1,055,000. Three Seasons Wealth LLC bought a new stake in Albemarle in the 4th quarter worth approximately $873,000. J. Safra Sarasin Holding AG lifted its position in Albemarle by 493.3% in the 4th quarter. J. Safra Sarasin Holding AG now owns 84,011 shares of the specialty chemicals company’s stock worth $11,883,000 after buying an additional 69,850 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. boosted its stake in Albemarle by 181.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company’s stock worth $18,705,000 after buying an additional 85,320 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of NYSE:ALB opened at $140.76 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $177.67 and a 200-day moving average price of $169.35. The company has a market cap of $16.60 billion, a price-to-earnings ratio of -41.28, a price-to-earnings-growth ratio of 0.71 and a beta of 1.30. Albemarle Corporation has a 12 month low of $60.64 and a 12 month high of $221.00.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned ($0.18) earnings per share. Albemarle’s quarterly revenue was up 32.7% on a year-over-year basis. As a group, equities analysts anticipate that Albemarle Corporation will post 12.98 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.2%. Albemarle’s payout ratio is -47.51%.

Analysts Set New Price Targets

ALB has been the topic of several research reports. 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. UBS Group upped their price objective on shares of Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a report on Tuesday, May 26th. Mizuho lifted their target price on shares of Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Albemarle from $253.00 to $257.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.54.

Insider Activity

In related news, CEO J Kent Masters sold 16,393 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.