Peregrine Investment Management Inc. Has $8.79 Million Stock Position in Albemarle Corporation $ALB

Peregrine Investment Management Inc. lessened its holdings in shares of Albemarle Corporation (NYSE:ALB) by 17.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 62,110 shares of the specialty chemicals company’s stock after selling 12,890 shares during the period. Albemarle comprises about 5.5% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 8th biggest position. Peregrine Investment Management Inc.’s holdings in Albemarle were worth $8,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MH & Associates Securities Management Corp ADV bought a new position in Albemarle during the fourth quarter worth about $26,000. Torren Management LLC bought a new position in shares of Albemarle in the fourth quarter valued at approximately $38,000. Strategic Advocates LLC bought a new position in shares of Albemarle in the third quarter valued at approximately $25,000. BOKF NA boosted its position in shares of Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 404 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new stake in Albemarle during the third quarter valued at approximately $40,000. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Down 2.1%

Shares of NYSE ALB opened at $205.66 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. Albemarle Corporation has a 52 week low of $53.70 and a 52 week high of $221.00. The firm’s fifty day moving average is $180.77 and its 200 day moving average is $156.80. The company has a market cap of $24.25 billion, a price-to-earnings ratio of -60.31, a PEG ratio of 1.42 and a beta of 1.36.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) EPS. On average, equities research analysts expect that Albemarle Corporation will post 9.22 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, June 12th. Albemarle’s payout ratio is presently -47.51%.

Trending Headlines about Albemarle

Here are the key news stories impacting Albemarle this week:

• Positive Sentiment: Deutsche Bank raised its price target on Albemarle to $250 and kept a buy rating, signaling continued upside potential. Article link
• Positive Sentiment: Royal Bank of Canada lifted its target to $253 and reiterated outperform, while Jefferies and Argus also boosted targets, reinforcing a bullish Street view. Article link
• Positive Sentiment: Zacks added ALB to its Rank #1 Strong Buy list and highlighted strong earnings estimate revisions and momentum strength. Article link
• Positive Sentiment: Recent commentary points to Albemarle’s 26% three-month rally, supported by lithium price tailwinds, solid demand, and an improved earnings outlook. Article link
• Neutral Sentiment: Several articles simply note elevated investor attention and compare ALB’s performance with the broader basic materials sector, without adding a major new catalyst. Article link

Analysts Set New Price Targets

A number of research firms recently weighed in on ALB. JPMorgan Chase & Co. dropped their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Berenberg Bank set a $153.00 target price on shares of Albemarle in a research note on Monday, February 23rd. Morgan Stanley lifted 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, 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 note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Albemarle currently has an average rating of “Hold” and a consensus target price of $194.13.

Insider Transactions at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the transaction, the chief executive officer directly owned 134,628 shares of the company’s stock, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

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.