Chiron Capital Management LLC Boosts Holdings in Albemarle Corporation $ALB

Key Points

• Chiron Capital Management LLC increased its stake in Albemarle Corporation by 58.8%, acquiring an additional 5,298 shares, bringing its total holdings to 14,306 shares valued at approximately $1,030,000.
• Albemarle Corporation reported earnings of $0.11 per share, surpassing analysts' expectations, despite a 7.0% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.405 per share, representing a yield of 1.9%, with an ex-dividend date set for September 12th.

Chiron Capital Management LLC increased its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 58.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,306 shares of the specialty chemicals company's stock after purchasing an additional 5,298 shares during the period. Chiron Capital Management LLC's holdings in Albemarle were worth $1,030,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. acquired a new stake in Albemarle during the 1st quarter worth $32,000. National Pension Service boosted its stake 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 purchasing an additional 193 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Albemarle in the 4th quarter worth $35,000. Costello Asset Management INC acquired a new stake in shares of Albemarle in the 1st quarter worth $36,000. Finally, Evermay Wealth Management LLC lifted its stake in shares of Albemarle by 84.1% in the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock worth $48,000 after acquiring an additional 306 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Price Performance

Shares of ALB traded up $2.17 during trading hours on Friday, reaching $81.44. The company had a trading volume of 4,802,912 shares, compared to its average volume of 3,799,377. The firm has a 50 day simple moving average of $75.71 and a 200-day simple moving average of $68.01. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of -8.74 and a beta of 1.64. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.94. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $0.04 EPS. The business's revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. Research analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Albemarle's dividend payout ratio (DPR) is -17.38%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALB. UBS Group upgraded shares of Albemarle from a "sell" rating to a "neutral" rating and raised their target price for the stock from $62.00 to $89.00 in a research note on Tuesday, August 26th. Scotiabank raised their target price on shares of Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. KeyCorp restated a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft set a $74.00 target price on shares of Albemarle and gave the stock a "hold" rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Albemarle from $60.00 to $80.00 and gave the stock 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 MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average 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.