Candriam S.C.A. Has $546,000 Stock Holdings in Albemarle Corporation $ALB

Key Points

• Candriam S.C.A. significantly reduced its stake in Albemarle Corporation by 57.5%, selling 10,261 shares and now holding 7,579 shares valued at approximately $546,000.
• Albemarle's recent quarterly earnings showed a profit of $0.11 EPS, surpassing analyst expectations of a loss, while its revenue decreased by 7.0% year-over-year, totaling $1.33 billion.
• Analysts have mixed ratings on Albemarle, with a consensus rating of "Reduce" and an average price target of $89.17, reflecting a range of ratings from "Buy" to "Strong Sell."

Candriam S.C.A. cut its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 57.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,579 shares of the specialty chemicals company's stock after selling 10,261 shares during the period. Candriam S.C.A.'s holdings in Albemarle were worth $546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new stake in shares of Albemarle during the fourth quarter worth $35,000. SJS Investment Consulting Inc. acquired a new stake in shares of Albemarle during the 1st quarter valued at about $32,000. National Pension Service grew its stake in shares of Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after buying an additional 193 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Albemarle in the 1st quarter valued at approximately $36,000. Finally, Evermay Wealth Management LLC lifted its stake in Albemarle by 84.1% in the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after acquiring an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Albemarle Price Performance

Shares of NYSE:ALB traded down $0.18 on Friday, hitting $84.74. The stock had a trading volume of 1,083,032 shares, compared to its average volume of 3,542,244. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $113.91. The firm's 50 day moving average price is $73.19 and its 200-day moving average price is $68.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of -9.10 and a beta of 1.63.

Albemarle (NYSE:ALB - Get Free Report) last released its quarterly 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. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The business's revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, September 12th. This represents a $1.62 annualized dividend and a yield of 1.9%. Albemarle's dividend payout ratio is -17.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALB. Morgan Stanley dropped their price target on shares of Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. UBS Group raised shares of Albemarle from a "sell" rating to a "neutral" rating and increased their target price for the stock from $62.00 to $89.00 in a research report on Tuesday. Baird R W cut Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Piper Sandler set a $68.00 price target on Albemarle and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their price objective on Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Three equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $86.47.

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.