Aviso Financial Inc. Purchases 6,011 Shares of Albemarle Corporation $ALB

Key Points

• Aviso Financial Inc. increased its stake in Albemarle Corporation by 37.6% during the first quarter, acquiring an additional 6,011 shares, bringing its total holdings to 21,986 shares valued at approximately $1,583,000.
• Albemarle Corporation's recent earnings report showed a loss of $0.11 per share, significantly beating analyst estimates of a loss of $0.83, with quarterly revenue of $1.33 billion.
• The company declared a quarterly dividend of $0.405 per share, providing a yield of 2.0%, which will be paid to shareholders on October 1st.

Aviso Financial Inc. raised its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,986 shares of the specialty chemicals company's stock after acquiring an additional 6,011 shares during the quarter. Aviso Financial Inc.'s holdings in Albemarle were worth $1,583,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ALB. SJS Investment Consulting Inc. bought a new stake in Albemarle during the 1st quarter valued at approximately $32,000. National Pension Service boosted its position in Albemarle by 74.5% during the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 193 shares in the last quarter. Orion Capital Management LLC bought a new stake in Albemarle during the 4th quarter valued at approximately $35,000. Costello Asset Management INC bought a new stake in Albemarle during the 1st quarter valued at approximately $36,000. Finally, Evermay Wealth Management LLC boosted its position 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 worth $48,000 after purchasing an additional 306 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ALB shares. Piper Sandler set a $68.00 price target on Albemarle and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft set a $74.00 price target on Albemarle and gave the stock a "hold" rating in a research report on Monday, August 4th. UBS Group boosted their price target on Albemarle from $57.00 to $62.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Mizuho set a $76.00 price target on Albemarle in a research report on Tuesday, July 15th. Finally, Baird R W cut Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $88.06.

Albemarle Price Performance

Shares of ALB opened at $82.18 on Monday. The firm has a market cap of $9.67 billion, a PE ratio of -8.82 and a beta of 1.63. 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 firm has a fifty day simple moving average of $69.53 and a two-hundred day simple moving average of $67.83. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.94. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.23 billion. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The company's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 EPS. On average, equities analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a dividend of $0.405 per share. The ex-dividend date 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%.

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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