Algert Global LLC Makes New Investment in Albemarle Corporation $ALB

Key Points

• Algert Global LLC has made a new investment in Albemarle Corporation, purchasing 11,260 shares valued at approximately $811,000 during the first quarter.
• Albemarle reported a q2 earnings per share (EPS) of $0.11, significantly beating analysts' expectations of ($0.83), although the company's quarterly revenue declined by 7% year-over-year.
• The company declared a quarterly dividend of $0.405, set to be paid on October 1st, which reflects an annualized yield of 2.0%.

Algert Global LLC purchased a new position in Albemarle Corporation (NYSE:ALB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 11,260 shares of the specialty chemicals company's stock, valued at approximately $811,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its position in shares of Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock valued at $3,414,000 after purchasing an additional 158 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 valued at $977,000 after purchasing an additional 188 shares during the period. National Pension Service increased its position 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 purchasing an additional 193 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of 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 valued at $650,000 after purchasing an additional 228 shares during the period. Finally, OneDigital Investment Advisors LLC increased its position in shares of Albemarle by 6.7% during the first quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock valued at $272,000 after purchasing an additional 239 shares during the period. 92.87% of the stock is owned by institutional investors.

Albemarle Price Performance

Shares of ALB stock opened at $81.2970 on Friday. The stock's fifty day simple moving average is $71.27 and its 200 day simple moving average is $67.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of -8.72 and a beta of 1.63. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate 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%.Albemarle's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.0%. Albemarle's payout ratio is currently -17.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALB shares. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on Albemarle and gave the company a "hold" rating in a research report on Monday, August 4th. Morgan Stanley lowered their price objective on Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Scotiabank boosted their price objective on Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Wells Fargo & Company lowered 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. Finally, Robert W. Baird reaffirmed an "underperform" rating and issued a $60.00 price target on shares of Albemarle in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus 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.

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