Algert Global LLC Invests $811,000 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 bought a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,260 shares of the specialty chemicals company's stock, valued at approximately $811,000.

Several other hedge funds and other institutional investors have also modified their holdings of ALB. Nuveen LLC bought a new position in shares of Albemarle during the 1st quarter worth approximately $26,836,000. Dimensional Fund Advisors LP lifted its position in shares of Albemarle by 28.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company's stock worth $110,814,000 after buying an additional 343,210 shares during the period. Manning & Napier Advisors LLC lifted its position in shares of Albemarle by 17.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 1,167,520 shares of the specialty chemicals company's stock worth $84,085,000 after buying an additional 173,441 shares during the period. GAMMA Investing LLC lifted its position in shares of Albemarle by 6,393.1% during the 1st quarter. GAMMA Investing LLC now owns 152,394 shares of the specialty chemicals company's stock worth $10,975,000 after buying an additional 150,047 shares during the period. Finally, Man Group plc lifted its position in shares of Albemarle by 1,213.0% during the 4th quarter. Man Group plc now owns 158,649 shares of the specialty chemicals company's stock worth $13,657,000 after buying an additional 146,566 shares during the period. Institutional investors own 92.87% of the company's stock.

Albemarle Trading Down 0.1%

Shares of NYSE:ALB traded down $0.05 during midday trading on Friday, hitting $84.87. The company had a trading volume of 1,731,221 shares, compared to its average volume of 4,224,362. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of -9.11 and a beta of 1.63. The firm has a fifty day simple moving average of $73.75 and a 200 day simple moving average of $68.19.

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 return on equity of 1.87% and a negative net margin of 18.61%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $0.04 EPS. The firm's revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 12th. Albemarle's dividend payout ratio (DPR) is currently -17.38%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Robert W. Baird raised their target price on Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a research report on Friday. Morgan Stanley dropped their price target on Albemarle from $68.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Scotiabank raised their price target on Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $74.00 price target on Albemarle and gave the company a "hold" rating in a report on Monday, August 4th. Finally, TD Securities dropped their price target on Albemarle from $115.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price 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.