111 Capital Takes $393,000 Position in Albemarle Corporation $ALB

Key Points

• 111 Capital has taken a new position in Albemarle Corporation by purchasing 6,267 shares valued at approximately $393,000 during the 2nd quarter.
• Analysts have mixed ratings for Albemarle, with JPMorgan Chase & Co. raising their price target from $60.00 to $80.00 while maintaining a "neutral" rating.
• Albemarle reported earnings of $0.11 EPS for the last quarter, exceeding expectations of ($0.83) EPS, and had a revenue of $1.33 billion.

111 Capital purchased a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,267 shares of the specialty chemicals company's stock, valued at approximately $393,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALB. SJS Investment Consulting Inc. purchased a new position in shares of Albemarle in the first quarter worth about $32,000. National Pension Service boosted its holdings in Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 193 shares during the period. Costello Asset Management INC purchased a new position in Albemarle in the 1st quarter valued at approximately $36,000. ST Germain D J Co. Inc. bought a new stake in Albemarle during the 2nd quarter valued at $47,000. Finally, Evermay Wealth Management LLC lifted its position in shares of Albemarle by 84.1% during the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock worth $48,000 after acquiring an additional 306 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALB. JPMorgan Chase & Co. increased their price objective on Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Wall Street Zen upgraded shares of Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Albemarle in a research note on Saturday, September 27th. Scotiabank raised their price target on shares of Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 price target on shares of Albemarle and gave the stock a "hold" rating in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $86.72.

Albemarle Stock Up 0.5%

ALB opened at $88.06 on Monday. The business's fifty day simple moving average is $79.19 and its 200 day simple moving average is $68.70. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $113.91. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.36 billion, a PE ratio of -9.45 and a beta of 1.65.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.94. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The company's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. As a group, research analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.8%. Albemarle's dividend payout ratio (DPR) is -17.38%.

Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.

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