CYBER HORNET ETFs LLC Has $2.73 Million Stock Position in Albemarle Corporation $ALB

Key Points

• CYBER HORNET ETFs LLC increased its Albemarle stake by 6,118.2% in the second quarter, owning 20,209 shares valued at approximately $2.73 million. Institutional investors collectively hold 92.87% of ALB stock.
• Analysts maintain a generally positive outlook, with 15 Buy, nine Hold, and two Sell ratings; the consensus rating is Moderate Buy with a $190.04 price target.
• Albemarle exceeded quarterly expectations, reporting $3.75 in EPS and $1.74 billion in revenue, with revenue up 31.1% year over year. The company declared a quarterly dividend of $0.41 per share, equivalent to a 1.3% annual yield.

CYBER HORNET ETFs LLC lifted its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 6,118.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,209 shares of the specialty chemicals company's stock after purchasing an additional 19,884 shares during the period. Albemarle accounts for 0.9% of CYBER HORNET ETFs LLC's holdings, making the stock its 16th biggest position. CYBER HORNET ETFs LLC's holdings in Albemarle were worth $2,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ALB. AQR Capital Management LLC grew its position in shares of Albemarle by 25.5% in the 1st quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company's stock valued at $229,000 after acquiring an additional 654 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company's stock valued at $346,000 after purchasing an additional 996 shares during the last quarter. United Services Automobile Association bought a new position in Albemarle during the first quarter worth about $208,000. Empowered Funds LLC bought a new position in Albemarle during the first quarter worth about $411,000. Finally, EverSource Wealth Advisors LLC increased its position in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock worth $36,000 after buying an additional 483 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALB has been the subject of a number of recent analyst reports. Argus raised their price objective on Albemarle from $185.00 to $230.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Citigroup reduced their price objective on shares of Albemarle from $225.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Rothschild & Co Redburn dropped their price objective on shares of Albemarle from $188.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. Truist Financial cut their target price on shares of Albemarle from $245.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Finally, Jefferies Financial Group reduced their target price on shares of Albemarle from $244.00 to $211.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.04.

Albemarle Price Performance

NYSE:ALB opened at $126.51 on Monday. Albemarle Corporation has a 52 week low of $71.25 and a 52 week high of $221.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. The firm's 50-day simple moving average is $128.03 and its 200 day simple moving average is $158.52. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of 468.57, a P/E/G ratio of 0.74 and a beta of 1.33.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.11 EPS. The business's revenue for the quarter was up 31.1% compared to the same quarter last year. As a group, sell-side analysts predict that Albemarle Corporation will post 11.39 earnings per share for the current year.

Albemarle Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $0.41 per share. This is an increase from Albemarle's previous quarterly dividend of $0.41. This represents a $1.64 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Albemarle's dividend payout ratio (DPR) is currently 600.00%.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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