Tejara Capital Ltd Acquires New Holdings in Albemarle Corporation $ALB

Key Points

• Tejara Capital Ltd acquired 34,029 shares of Albemarle Corporation (NYSE:ALB) in Q1, totaling approximately $2.45 million.
• Albemarle's recent earnings report revealed an EPS of $0.11, exceeding expectations of a loss of $0.83, with revenues at $1.33 billion.
• The company has announced a quarterly dividend of $0.405, equating to an annual yield of 2.0% for shareholders recorded by September 12.

Tejara Capital Ltd bought a new stake in Albemarle Corporation (NYSE:ALB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,029 shares of the specialty chemicals company's stock, valued at approximately $2,451,000.

Several other hedge funds also recently modified their holdings of ALB. SJS Investment Consulting Inc. acquired a new position in shares of Albemarle during the 1st quarter valued at $32,000. National Pension Service raised its holdings in shares of Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after buying an additional 193 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Albemarle during the 4th quarter worth about $35,000. Costello Asset Management INC bought a new stake in shares of Albemarle in the 1st quarter worth $36,000. Finally, Evermay Wealth Management LLC increased its holdings in shares of Albemarle by 84.1% in the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 306 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Down 3.1%

Shares of Albemarle stock traded down $2.5070 during trading hours on Wednesday, reaching $78.0430. The company's stock had a trading volume of 3,455,643 shares, compared to its average volume of 5,486,469. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. The stock's fifty day simple moving average is $70.53 and its two-hundred day simple moving average is $67.98. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The company has a market capitalization of $9.18 billion, a P/E ratio of -8.37 and a beta of 1.63.

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

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 2.1%. Albemarle's dividend payout ratio (DPR) is presently -17.38%.

Analysts Set New Price Targets

ALB has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday. TD Securities decreased their price target on Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Scotiabank lifted their price objective on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. KeyCorp restated a "sector weight" rating on shares of Albemarle in a report on Wednesday, July 30th. Finally, Baird R W cut Albemarle from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $89.17.

About Albemarle

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.