Allstate Corp Has $537,000 Stock Position in Albemarle Corporation $ALB

Key Points

• Allstate Corp increased its stake in Albemarle Corporation by 110.2% in Q1, acquiring an additional 3,910 shares, bringing its total to 7,459 shares worth $537,000.
• Albemarle announced a quarterly dividend of $0.405 per share, with a payout ratio of -17.38%, indicating the company has a negative return on equity.
• Research analysts have mixed ratings on Albemarle stock, with three Buy ratings, nine Hold ratings, and five Sell ratings, and a consensus price target of $89.17.

Allstate Corp lifted its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 110.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,459 shares of the specialty chemicals company's stock after purchasing an additional 3,910 shares during the period. Allstate Corp's holdings in Albemarle were worth $537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. acquired a new stake in shares of Albemarle in the 1st quarter valued at $32,000. National Pension Service raised 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 worth $33,000 after acquiring an additional 193 shares during the period. Orion Capital Management LLC bought a new position in Albemarle in the 4th quarter worth $35,000. Costello Asset Management INC bought a new position in Albemarle in the 1st quarter worth $36,000. Finally, Evermay Wealth Management LLC raised its holdings in Albemarle by 84.1% in the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock worth $48,000 after acquiring an additional 306 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Stock Performance

Shares of NYSE:ALB traded down $0.05 on Friday, hitting $84.87. 1,731,221 shares of the company were exchanged, compared to its average volume of 4,097,177. The company's 50 day moving average price is $73.75 and its two-hundred day moving average price is $68.05. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of -9.11 and a beta of 1.64.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The business's revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. Research analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's payout ratio is presently -17.38%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALB. Deutsche Bank Aktiengesellschaft set a $74.00 target price on shares of Albemarle and gave the stock a "hold" rating in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Robert W. Baird lifted their target price on shares of Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a report on Friday. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a report on Wednesday, July 30th. Finally, Piper Sandler set a $68.00 target price on shares of Albemarle and gave the stock an "underweight" rating in a report on Wednesday, May 14th. 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 stock. According to data from MarketBeat.com, Albemarle currently has a consensus rating of "Reduce" and an average target price 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.