Albemarle Corporation $ALB is Bayforest Capital Ltd's 7th Largest Position

Key Points

• Bayforest Capital Ltd increased its stake in Albemarle Corporation by 92.9% during the 2nd quarter, making it the firm's 7th largest position with a total value of $1.32 million.
• Albemarle's shares recently rose by 7.1% and the company reported earnings of $0.11 per share, significantly surpassing analysts' expectations of a loss of $0.83.
• Institutional investors collectively own 92.87% of Albemarle's stock, with the company currently holding a consensus rating of "Hold" and a price target of $87.35.

Bayforest Capital Ltd boosted its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 92.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,048 shares of the specialty chemicals company's stock after buying an additional 10,136 shares during the quarter. Albemarle accounts for about 0.6% of Bayforest Capital Ltd's holdings, making the stock its 7th biggest holding. Bayforest Capital Ltd's holdings in Albemarle were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC lifted its position in shares of Albemarle by 10.7% during the first quarter. WealthPlan Investment Management LLC now owns 50,326 shares of the specialty chemicals company's stock worth $3,624,000 after purchasing an additional 4,872 shares in the last quarter. Grandfield & Dodd LLC grew its position in shares of Albemarle by 5.2% during the first quarter. Grandfield & Dodd LLC now owns 243,036 shares of the specialty chemicals company's stock worth $17,503,000 after acquiring an additional 12,014 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Albemarle in the 1st quarter valued at $271,000. Envestnet Asset Management Inc. grew its position in Albemarle by 3.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 184,426 shares of the specialty chemicals company's stock valued at $13,282,000 after buying an additional 6,487 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of Albemarle during the 1st quarter worth $303,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ALB. KeyCorp restated a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Zacks Research raised Albemarle from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Mizuho lifted their price target on Albemarle from $78.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Cowen reaffirmed a "hold" rating on shares of Albemarle in a research note on Thursday. Finally, Jefferies Financial Group lifted their price target on Albemarle from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, Albemarle currently has a consensus rating of "Hold" and a consensus price target of $87.35.

Albemarle Stock Up 7.1%

Shares of NYSE:ALB opened at $96.20 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $113.91. The stock has a market capitalization of $11.32 billion, a P/E ratio of -10.32 and a beta of 1.65. The stock has a 50-day simple moving average of $81.93 and a 200-day simple moving average of $69.41.

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

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.62 annualized dividend and a yield of 1.7%. Albemarle's dividend payout ratio (DPR) is currently -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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