Blue Edge Capital LLC Has $1.20 Million Holdings in Albemarle Corporation $ALB

Key Points

• Blue Edge Capital cut its Albemarle position by 64.3% in the second quarter, selling 16,015 shares and retaining 8,892 shares valued at approximately $1.20 million.
• Albemarle reported stronger-than-expected quarterly results, with EPS of $3.75 versus the $3.20 consensus and revenue of $1.74 billion, up 31.1% year over year.
• Analysts maintain a “Moderate Buy” consensus with a $190.04 average price target, despite several recent target-price reductions; the stock opened at $126.22.

Blue Edge Capital LLC cut its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 64.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,892 shares of the specialty chemicals company's stock after selling 16,015 shares during the period. Blue Edge Capital LLC's holdings in Albemarle were worth $1,201,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Pinkerton Wealth LLC acquired a new stake in Albemarle in the 4th quarter valued at about $2,785,000. BW Gestao de Investimentos Ltda. lifted its position in shares of Albemarle by 181.8% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company's stock worth $18,705,000 after purchasing an additional 85,320 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Albemarle during the second quarter worth approximately $4,246,000. NFJ Investment Group LLC bought a new stake in shares of Albemarle during the second quarter valued at approximately $23,328,000. Finally, Hsbc Holdings PLC grew its stake in shares of Albemarle by 47.4% during the fourth quarter. Hsbc Holdings PLC now owns 230,690 shares of the specialty chemicals company's stock valued at $32,655,000 after purchasing an additional 74,202 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Albemarle from $166.00 to $157.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Truist Financial lowered their target price on Albemarle from $245.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Rothschild & Co Redburn cut their price target on Albemarle from $188.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Robert W. Baird lowered their price objective on Albemarle from $236.00 to $224.00 and set a "neutral" rating for the company in a research report on Thursday, June 18th. Finally, UBS Group dropped their price objective on Albemarle from $205.00 to $175.00 and set a "buy" rating for the company in a report on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.04.

Albemarle Price Performance

Shares of ALB stock opened at $126.22 on Thursday. Albemarle Corporation has a 12-month low of $71.25 and a 12-month high of $221.00. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 467.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.33. The firm has a fifty day moving average of $127.67 and a 200-day moving average of $157.63.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business posted $0.11 earnings per share. The firm's quarterly revenue was up 31.1% on a year-over-year basis. On average, equities research analysts forecast that Albemarle Corporation will post 11.39 earnings per share for the current year.

Albemarle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, September 11th. This is an increase from Albemarle's previous quarterly dividend of $0.41. Albemarle's dividend payout ratio (DPR) is presently 600.00%.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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