Blue Edge Capital LLC Takes $1.20 Million Position in Albemarle Corporation $ALB

Key Points

• Blue Edge Capital acquired 8,892 Albemarle shares worth approximately $1.20 million in the second quarter. Institutional investors collectively own 92.87% of the company.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $190.04, despite several recent target reductions and rating changes.
• Albemarle reported quarterly EPS of $3.75, beating estimates of $3.20, while revenue rose 31.1% year over year to $1.74 billion. Shares opened at $135.93, and the company maintained a $0.41 quarterly dividend.

Blue Edge Capital LLC purchased a new position in Albemarle Corporation (NYSE:ALB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,892 shares of the specialty chemicals company's stock, valued at approximately $1,201,000.

A number of other hedge funds also recently bought and sold shares of ALB. Pinkerton Wealth LLC purchased a new position in shares of Albemarle during the fourth quarter valued at approximately $2,785,000. BW Gestao de Investimentos Ltda. grew its stake in shares of Albemarle by 181.8% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company's stock worth $18,705,000 after buying an additional 85,320 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Albemarle in the 2nd quarter worth approximately $4,246,000. NFJ Investment Group LLC bought a new position in Albemarle during the 2nd quarter valued at approximately $23,328,000. Finally, Wealth High Governance Capital Ltda bought a new position in Albemarle during the 4th quarter valued at approximately $21,585,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Albemarle from $244.00 to $211.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Mizuho decreased their target price on shares of Albemarle from $205.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Albemarle from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 18th. Royal Bank Of Canada cut their price target on shares of Albemarle from $166.00 to $157.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of Albemarle from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.04.

Albemarle Trading Up 1.1%

Albemarle stock opened at $135.93 on Friday. The business has a 50-day simple moving average of $129.71 and a two-hundred day simple moving average of $159.90. The company has a market cap of $16.04 billion, a P/E ratio of 503.46 and a beta of 1.33. Albemarle Corporation has a 52-week low of $71.25 and a 52-week 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.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.11 earnings per share. The firm's revenue was up 31.1% compared to the same quarter last year. Analysts predict that Albemarle Corporation will post 11.63 EPS for the current year.

Albemarle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.41 per share. This is an increase from Albemarle's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.64 dividend on an annualized basis and a yield of 1.2%. Albemarle's payout ratio is 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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