Bridge Creek Capital Management LLC Has $1.61 Million Position in Albemarle Corporation $ALB

Key Points

• Bridge Creek Capital Management LLC has increased its stake in Albemarle Corporation by 14.2%, now holding 25,624 shares valued at approximately $1.61 million as of the latest SEC filing.
• Albemarle recently reported quarterly earnings of $0.11 per share, significantly surpassing analysts' expectations of ($0.83), though revenues decreased by 7% year-over-year.
• The company declared a quarterly dividend of $0.405 per share, which translates to an annual yield of 2.0%, with the dividend payout ratio standing at -17.38%.

Bridge Creek Capital Management LLC increased its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 14.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,624 shares of the specialty chemicals company's stock after purchasing an additional 3,195 shares during the period. Bridge Creek Capital Management LLC's holdings in Albemarle were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ALB. Toronto Dominion Bank grew its position in Albemarle by 0.4% during the 4th quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock worth $3,414,000 after acquiring an additional 158 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Albemarle by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock worth $977,000 after buying an additional 188 shares during the period. National Pension Service lifted its holdings in Albemarle by 74.5% during the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 193 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Albemarle by 2.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock worth $650,000 after buying an additional 228 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its holdings in Albemarle by 6.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock worth $272,000 after buying an additional 239 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Up 1.1%

Shares of NYSE:ALB opened at $81.84 on Friday. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of -8.78 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The business's 50-day moving average is $77.78 and its 200-day moving average is $68.22. 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 posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share 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 business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business earned $0.04 EPS. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. Equities research analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's dividend payout ratio is -17.38%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised Albemarle from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. UBS Group raised Albemarle from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $62.00 to $89.00 in a report on Tuesday, August 26th. KeyCorp reaffirmed a "sector weight" rating on shares of Albemarle in a report on Wednesday, July 30th. Scotiabank lifted their target price on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Finally, Baird R W downgraded Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $86.47.

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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