AlphaQuest LLC Buys 3,547 Shares of Albemarle Corporation $ALB

Key Points

• AlphaQuest LLC significantly increased its ownership in Albemarle Corporation by 177,350%, now holding a total of 3,549 shares valued at $256,000 following substantial purchases in the first quarter.
• Albemarle announced a quarterly dividend of $0.405 per share, which is scheduled for payment on October 1st, with a yield of 1.9% based on an annualized rate of $1.62.
• UBS Group upgraded Albemarle's rating from "sell" to "neutral", raising the target price from $62 to $89, while the consensus price target stands at $86.47 with mixed ratings from analysts.

AlphaQuest LLC grew its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 177,350.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,549 shares of the specialty chemicals company's stock after acquiring an additional 3,547 shares during the quarter. AlphaQuest LLC's holdings in Albemarle were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock worth $3,414,000 after buying an additional 158 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Albemarle by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock worth $977,000 after buying an additional 188 shares in the last quarter. National Pension Service grew its holdings in Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 193 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Albemarle by 2.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock worth $650,000 after buying an additional 228 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in Albemarle by 6.7% during the first quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock worth $272,000 after buying an additional 239 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Albemarle Price Performance

ALB traded down $0.78 during trading on Thursday, reaching $79.33. 541,627 shares of the company were exchanged, compared to its average volume of 3,521,659. The company's 50-day moving average is $75.07 and its two-hundred day moving average is $68.24. The company has a market cap of $9.34 billion, a price-to-earnings ratio of -8.50 and a beta of 1.65. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91.

Albemarle (NYSE:ALB - Get Free Report) last announced its 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. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. Research analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Albemarle's dividend payout ratio (DPR) is presently -17.38%.

Analysts Set New Price Targets

ALB has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Piper Sandler set a $68.00 price objective on Albemarle and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. KeyCorp reissued a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on Albemarle and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, UBS Group raised Albemarle from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $62.00 to $89.00 in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $86.47.

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.