BI Asset Management Fondsmaeglerselskab A S Has $320,000 Holdings in Albemarle Corporation $ALB

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Albemarle Corporation by 70.7%, selling 10,704 shares, leaving it with 4,445 shares valued at approximately $320,000.
• Several institutional investors have altered their positions in Albemarle, with Nuveen LLC purchasing a new stake valued at approximately $26.8 million and Dimensional Fund Advisors LP increasing its stake by 28.7%.
• Albemarle recently announced a quarterly dividend of $0.405 per share, representing an annualized dividend yield of 2.0% and a payout ratio of -17.38%.

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 70.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,445 shares of the specialty chemicals company's stock after selling 10,704 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Albemarle were worth $320,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. acquired a new stake in Albemarle during the first quarter worth approximately $32,000. National Pension Service increased its holdings 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 worth $33,000 after purchasing an additional 193 shares during the period. Orion Capital Management LLC bought a new position in shares of Albemarle during the fourth quarter worth approximately $35,000. Costello Asset Management INC bought a new position in shares of Albemarle during the first quarter worth approximately $36,000. Finally, Evermay Wealth Management LLC increased its holdings in shares of Albemarle by 84.1% during the first 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 during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALB. Wall Street Zen raised shares of Albemarle from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Scotiabank raised their target price on shares of Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Morgan Stanley lowered their target price on shares of Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. 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. Finally, TD Securities lowered their target price on shares of Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Albemarle has a consensus rating of "Reduce" and a consensus target price of $86.00.

Albemarle Price Performance

Albemarle stock traded down $3.01 during mid-day trading on Thursday, reaching $84.67. The company had a trading volume of 2,663,815 shares, compared to its average volume of 3,551,736. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week 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 company has a market cap of $9.96 billion, a P/E ratio of -9.09 and a beta of 1.63. The business has a fifty day simple moving average of $72.68 and a 200 day simple moving average of $68.06.

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 for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $0.04 earnings per share. The company's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Friday, September 12th. Albemarle's payout ratio is -17.38%.

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.