Carmignac Gestion Has $288,000 Stake in Albemarle Corporation $ALB

Key Points

• Carmignac Gestion has reduced its stake in Albemarle Corporation by 46.7%, now holding 3,999 shares valued at $288,000.
• Albemarle reported earnings of $0.11 per share, exceeding expectations but showed a 7% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.405, representing an annual yield of 2.0%, with the dividend payout ratio currently at -17.38%.

Carmignac Gestion decreased its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 46.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,999 shares of the specialty chemicals company's stock after selling 3,500 shares during the quarter. Carmignac Gestion's holdings in Albemarle were worth $288,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ALB. Vanguard Group Inc. grew its holdings in Albemarle by 0.5% during the first quarter. Vanguard Group Inc. now owns 14,672,272 shares of the specialty chemicals company's stock valued at $1,056,697,000 after purchasing an additional 77,773 shares during the period. ProShare Advisors LLC grew its holdings in Albemarle by 1.3% during the fourth quarter. ProShare Advisors LLC now owns 1,990,762 shares of the specialty chemicals company's stock valued at $171,365,000 after purchasing an additional 25,207 shares during the period. Dimensional Fund Advisors LP grew its holdings in Albemarle by 28.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company's stock valued at $110,814,000 after purchasing an additional 343,210 shares during the period. Earnest Partners LLC grew its holdings in Albemarle by 0.6% during the fourth quarter. Earnest Partners LLC now owns 1,432,153 shares of the specialty chemicals company's stock valued at $123,280,000 after purchasing an additional 8,243 shares during the period. Finally, Northern Trust Corp grew its holdings in Albemarle by 12.1% during the fourth quarter. Northern Trust Corp now owns 1,290,797 shares of the specialty chemicals company's stock valued at $111,112,000 after purchasing an additional 139,600 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Stock Performance

Shares of ALB opened at $80.48 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. 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 $70.27 and its two-hundred day moving average price is $67.91. The firm has a market cap of $9.47 billion, a P/E ratio of -8.64 and a beta of 1.63.

Albemarle (NYSE:ALB - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $1.23 billion. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The business's revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. On average, analysts forecast that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird restated an "underperform" rating and set a $60.00 price objective on shares of Albemarle in a report on Tuesday, July 29th. UBS Group boosted their price objective on shares of Albemarle from $57.00 to $62.00 and gave the company a "sell" rating in a report on Thursday, July 31st. TD Securities decreased their price objective on shares of Albemarle from $115.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on shares of Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Baird R W lowered shares of Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Albemarle presently has an average rating of "Reduce" and a consensus target price of $89.17.

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.

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