1248 Management LLC Has $851,000 Position in Albemarle Corporation $ALB

Key Points

• 1248 Management LLC significantly increased its holdings in Albemarle Corporation by 265.8% during the first quarter, now owning 11,800 shares valued at approximately $851,000.
• Albemarle's quarterly earnings report revealed a profit of $0.11 per share, beating estimates, despite a decline in revenue of 7.0% year-over-year.
• The company announced a quarterly dividend of $0.405 per share, with a yield of 2.2%, to be paid on October 1st to shareholders of record on September 12th.

1248 Management LLC raised its position in Albemarle Corporation (NYSE:ALB - Free Report) by 265.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,800 shares of the specialty chemicals company's stock after purchasing an additional 8,574 shares during the quarter. 1248 Management LLC's holdings in Albemarle were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALB. Focus Partners Wealth bought a new position in Albemarle in the 4th quarter worth approximately $5,532,000. Laird Norton Wetherby Wealth Management LLC grew its holdings in Albemarle by 19.9% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 3,748 shares of the specialty chemicals company's stock worth $323,000 after buying an additional 622 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in Albemarle by 19.8% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,820 shares of the specialty chemicals company's stock worth $415,000 after buying an additional 795 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in Albemarle in the 4th quarter worth approximately $320,000. Finally, Nuveen Asset Management LLC grew its holdings in Albemarle by 12.3% in the 4th quarter. Nuveen Asset Management LLC now owns 317,963 shares of the specialty chemicals company's stock worth $27,370,000 after buying an additional 34,800 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Price Performance

Albemarle stock traded up $4.99 during mid-day trading on Monday, hitting $80.97. The company's stock had a trading volume of 5,010,425 shares, compared to its average volume of 3,613,481. 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 capitalization of $9.53 billion, a P/E ratio of -8.69 and a beta of 1.64. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $113.91. The stock's fifty day moving average price is $76.73 and its two-hundred day moving average price is $67.88.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business posted $0.04 earnings per share. The firm's quarterly revenue was down 7.0% compared to the same quarter last year. 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 year.

Albemarle Announces Dividend

The firm also recently disclosed 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. This represents a $1.62 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's dividend payout ratio is currently -17.38%.

Wall Street Analysts Forecast Growth

ALB has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Mizuho set a $76.00 price objective on shares of Albemarle in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Albemarle from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Robert W. Baird raised their price objective on shares of Albemarle from $58.00 to $68.00 and gave the company an "underperform" rating in a research note on Friday, August 29th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Albemarle presently has an average rating of "Reduce" and an average price target of $86.47.

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.