Amundi Has $51.57 Million Stock Position in Albemarle Corporation $ALB

Key Points

• Amundi has increased its stake in Albemarle Corporation by 10.7%, owning approximately 0.65% of the company after acquiring an additional 74,037 shares in the first quarter.
• Several analysts have set varying price targets for Albemarle stock, with Wells Fargo decreasing its target from $75.00 to $70.00 while Robert W. Baird raised it to $68.00, contributing to a consensus target price of $86.47.
• Albemarle Corporation announced a quarterly dividend of $0.405 per share, representing an annualized yield of 2.0%, intended for stockholders of record by September 12th.

Amundi raised its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 767,684 shares of the specialty chemicals company's stock after purchasing an additional 74,037 shares during the quarter. Amundi owned 0.65% of Albemarle worth $51,573,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ALB. Orion Capital Management LLC bought a new stake in Albemarle in the 4th quarter valued at $35,000. SJS Investment Consulting Inc. bought a new stake in Albemarle in the 1st quarter valued at $32,000. National Pension Service increased 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 valued at $33,000 after buying an additional 193 shares during the period. Costello Asset Management INC acquired a new stake in shares of Albemarle in the 1st quarter valued at $36,000. Finally, Evermay Wealth Management LLC boosted its stake in shares of Albemarle by 84.1% in the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after purchasing an additional 306 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Up 2.7%

Shares of NYSE ALB traded up $2.00 during trading hours on Thursday, hitting $75.32. The company had a trading volume of 2,272,122 shares, compared to its average volume of 3,603,732. The stock has a market capitalization of $8.86 billion, a P/E ratio of -8.07 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 1-year low of $49.43 and a 1-year high of $113.91. The firm's 50 day moving average is $76.40 and its 200-day moving average is $68.08.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $0.04 EPS. The company's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, analysts expect 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 $0.405 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.2%. Albemarle's dividend payout ratio (DPR) is presently -17.38%.

Wall Street Analysts Forecast Growth

ALB has been the topic of several research reports. Baird R W downgraded shares of Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Wells Fargo & Company lowered their price target on Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Robert W. Baird upped their price target on Albemarle from $58.00 to $68.00 and gave the company an "underperform" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. upped their price target on Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Piper Sandler set a $68.00 target price on Albemarle and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Albemarle has an average rating of "Reduce" and a consensus target price of $86.47.

Albemarle Company 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.