Albemarle Corporation $ALB Shares Sold by Cresset Asset Management LLC

Key Points

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Cresset Asset Management LLC lowered its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 10.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,036 shares of the specialty chemicals company's stock after selling 6,761 shares during the period. Cresset Asset Management LLC owned 0.05% of Albemarle worth $4,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake 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 worth $1,056,697,000 after buying an additional 77,773 shares during the last quarter. ProShare Advisors LLC boosted its stake 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 worth $171,365,000 after buying an additional 25,207 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $110,814,000 after buying an additional 343,210 shares during the last quarter. Earnest Partners LLC boosted its stake 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 worth $123,280,000 after buying an additional 8,243 shares during the last quarter. Finally, Northern Trust Corp boosted its stake 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 worth $111,112,000 after buying an additional 139,600 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Trading Up 3.0%

Shares of Albemarle stock traded up $2.3570 during trading hours on Friday, hitting $81.2970. The company's stock had a trading volume of 2,875,111 shares, compared to its average volume of 5,158,478. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $113.91. The firm has a fifty day moving average of $71.27 and a 200-day moving average of $67.88. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of -8.72 and a beta of 1.63. 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 (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.23 billion. During the same quarter in the prior year, the company posted $0.04 EPS. The company's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. Research analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.62 annualized dividend and a yield of 2.0%. Albemarle's dividend payout ratio is presently -17.38%.

Analyst Ratings Changes

A number of research firms have weighed in on ALB. JPMorgan Chase & Co. boosted their price objective on Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. KeyCorp reissued a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Piper Sandler set a $68.00 price objective on Albemarle and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. Baird R W lowered Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley decreased their price target on Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Albemarle has a consensus 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.