Earnest Partners LLC Cuts Stock Position in Albemarle Corporation $ALB

Key Points

• Earnest Partners LLC has reduced its holdings in Albemarle Corporation by 1.2%, owning approximately 1.20% of the stock valued at $101.9 million after selling 17,300 shares in the first quarter.
• Albemarle's stock has experienced fluctuations, with a 12-month low of $49.43 and a high of $113.91, currently trading around $81.52.
• Analysts have mixed ratings for Albemarle, with the consensus being a “Reduce” rating and an average target price of $90.67, indicating potential volatility ahead.

Earnest Partners LLC trimmed its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,414,853 shares of the specialty chemicals company's stock after selling 17,300 shares during the quarter. Earnest Partners LLC owned 1.20% of Albemarle worth $101,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock worth $3,414,000 after buying an additional 158 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Albemarle by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock worth $977,000 after buying an additional 188 shares during the period. National Pension Service boosted its stake in Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 193 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Albemarle by 2.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock worth $650,000 after buying an additional 228 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in Albemarle by 6.7% in the first quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock worth $272,000 after purchasing an additional 239 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Stock Down 0.1%

Shares of Albemarle stock traded down $0.05 during trading on Monday, hitting $84.87. 1,731,221 shares of the stock traded hands, compared to its average volume of 4,097,177. The firm has a market cap of $9.99 billion, a P/E ratio of -9.11 and a beta of 1.64. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $113.91. The stock's fifty day simple moving average is $73.75 and its 200 day simple moving average is $68.05.

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. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The business's revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. On average, equities analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.9%. Albemarle's dividend payout ratio (DPR) is currently -17.38%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALB shares. JPMorgan Chase & Co. increased their target price on Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Wells Fargo & Company reduced their target price on Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Scotiabank increased their target price on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Albemarle presently has a consensus rating of "Reduce" and an average target price of $86.47.

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.