Dimensional Fund Advisors LP Has $193.69 Million Stock Holdings in Albemarle Corporation $ALB

Key Points

• Dimensional Fund Advisors LP reduced its Albemarle stake by 25.6% in the first quarter, but still held 1,078,856 shares valued at about $193.7 million.
• Albemarle reported better-than-expected Q1 earnings, posting $2.95 EPS versus the $1.24 consensus and revenue of $1.43 billion, up 32.7% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $199.87, while the company also recently announced a quarterly dividend of $0.41 per share.

Dimensional Fund Advisors LP cut its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 25.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,078,856 shares of the specialty chemicals company's stock after selling 370,504 shares during the period. Dimensional Fund Advisors LP owned about 0.92% of Albemarle worth $193,688,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Albemarle by 25.5% during the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company's stock worth $229,000 after buying an additional 654 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Albemarle by 26.2% during 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 period. United Services Automobile Association bought a new position in Albemarle in the first quarter valued at approximately $208,000. Empowered Funds LLC acquired a new stake in Albemarle during the 1st quarter worth $411,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Albemarle by 536.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 483 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

ALB has been the topic of a number of analyst reports. Bank of America increased their price target on shares of Albemarle from $190.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Mizuho cut their target price on shares of Albemarle from $205.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Wells Fargo & Company lifted their price target on shares of Albemarle from $165.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. UBS Group raised their price target on Albemarle from $230.00 to $264.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada set a $166.00 price target on shares of Albemarle in a research note on Friday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Albemarle currently has an average rating of "Moderate Buy" and a consensus price target of $199.87.

Albemarle Price Performance

NYSE:ALB opened at $114.88 on Friday. The stock has a market capitalization of $13.55 billion, a PE ratio of -33.69 and a beta of 1.34. The firm has a fifty day simple moving average of $148.42 and a 200 day simple moving average of $167.23. Albemarle Corporation has a 1-year low of $64.95 and a 1-year high of $221.00. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23.

Albemarle (NYSE:ALB - Get Free Report) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $1.71. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. Albemarle's revenue was up 32.7% on a year-over-year basis. During the same period last year, the business posted ($0.18) EPS. On average, research analysts expect that Albemarle Corporation will post 12.86 EPS for the current fiscal year.

Albemarle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, September 11th. This represents a $1.64 annualized dividend and a dividend yield of 1.4%. This is an increase from Albemarle's previous quarterly dividend of $0.41. Albemarle's dividend payout ratio is presently -48.09%.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $183.72, for a total value of $3,011,721.96. Following the sale, the chief executive officer owned 87,519 shares in the company, valued at approximately $16,078,990.68. This represents a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company's stock.

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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