Entropy Technologies LP Purchases Shares of 18,661 Albemarle Corporation (NYSE:ALB)

Key Points

• Entropy Technologies LP has acquired a new stake in Albemarle Corporation, purchasing 18,661 shares valued at approximately $1,344,000 during the first quarter.
• Albemarle recently reported quarterly earnings with an EPS of $0.11, significantly exceeding analyst expectations of ($0.83), and revenue of $1.33 billion, down 7.0% year-over-year.
• The company has announced a dividend of $0.405 per share, with a current annualized yield of 2.0%, reflecting a payout ratio of -17.38%.

Entropy Technologies LP purchased a new stake in Albemarle Corporation (NYSE:ALB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,661 shares of the specialty chemicals company's stock, valued at approximately $1,344,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC increased its holdings in shares of Albemarle by 10.7% during the first quarter. WealthPlan Investment Management LLC now owns 50,326 shares of the specialty chemicals company's stock valued at $3,624,000 after acquiring an additional 4,872 shares in the last quarter. Grandfield & Dodd LLC increased its holdings in shares of Albemarle by 5.2% during the first quarter. Grandfield & Dodd LLC now owns 243,036 shares of the specialty chemicals company's stock valued at $17,503,000 after acquiring an additional 12,014 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Albemarle during the first quarter valued at approximately $271,000. Envestnet Asset Management Inc. boosted its position in shares of Albemarle by 3.6% during the first quarter. Envestnet Asset Management Inc. now owns 184,426 shares of the specialty chemicals company's stock valued at $13,282,000 after buying an additional 6,487 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Albemarle during the fourth quarter valued at approximately $218,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Up 7.0%

Shares of NYSE ALB opened at $80.77 on Tuesday. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The business's fifty day moving average price is $67.76 and its 200-day moving average price is $67.99. The stock has a market capitalization of $9.50 billion, a PE ratio of -8.67 and a beta of 1.63.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ALB shares. Baird R W cut Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Robert W. Baird reaffirmed an "underperform" rating and set a $60.00 target price on shares of Albemarle in a research report on Tuesday, July 29th. JPMorgan Chase & Co. cut their target price on Albemarle from $80.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. KeyCorp reaffirmed a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Finally, Scotiabank lifted their target price on Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Albemarle has a consensus rating of "Hold" and an average price target of $88.06.

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.

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