Aviso Financial Inc. Acquires 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. grew its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 37.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,986 shares of the specialty chemicals company's stock after buying 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 reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALB. Renaissance Technologies LLC increased its stake in shares of Albemarle by 2,151.9% in the fourth quarter. Renaissance Technologies LLC now owns 60,800 shares of the specialty chemicals company's stock valued at $5,234,000 after buying an additional 58,100 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Albemarle by 6.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 30,801 shares of the specialty chemicals company's stock valued at $2,656,000 after buying an additional 1,892 shares in the last quarter. United Capital Financial Advisors LLC increased its stake in shares of Albemarle by 9.8% in the fourth quarter. United Capital Financial Advisors LLC now owns 3,858 shares of the specialty chemicals company's stock valued at $332,000 after buying an additional 345 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Albemarle by 67.2% in the fourth quarter. NewEdge Advisors LLC now owns 7,325 shares of the specialty chemicals company's stock valued at $631,000 after buying an additional 2,944 shares in the last quarter. Finally, GeoWealth Management LLC increased its stake in shares of Albemarle by 26.4% in the fourth quarter. GeoWealth Management LLC now owns 2,963 shares of the specialty chemicals company's stock valued at $255,000 after buying an additional 618 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Trading Up 3.0%

ALB traded up $2.3570 during midday trading on Friday, reaching $81.2970. 2,875,111 shares of the company were exchanged, compared to its average volume of 5,158,478. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The stock has a market capitalization of $9.57 billion, a P/E ratio of -8.72 and a beta of 1.63. The stock's 50-day simple moving average is $71.27 and its 200 day simple moving average is $67.96.

Albemarle (NYSE:ALB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business earned $0.04 earnings per share. The company's revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. As a group, analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

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 issued 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 dividend payout ratio (DPR) is -17.38%.

Analyst Ratings Changes

A number of brokerages recently commented on ALB. Piper Sandler set a $68.00 price objective on Albemarle and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Mizuho set a $76.00 price objective on Albemarle in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on Albemarle and gave the stock a "hold" rating in a research report on Monday, August 4th. TD Securities lowered their price objective on Albemarle from $115.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price objective on Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $89.17.

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.