FengHe Fund Management Pte. Ltd. Invests $32.90 Million in Albemarle Corporation $ALB

Key Points

• FengHe Fund Management Pte. Ltd. has invested approximately $32.90 million in Albemarle Corporation, acquiring 525,016 shares which now represent about 5.4% of its portfolio.
• Albemarle reported quarterly earnings of $0.11 per share, significantly exceeding the expected loss of ($0.83) and achieving a revenue of $1.33 billion, although this reflects a 7% year-over-year decline.
• The company declared a quarterly dividend of $0.405 per share, which translates to an annualized yield of 1.9%.

FengHe Fund Management Pte. Ltd. purchased a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 525,016 shares of the specialty chemicals company's stock, valued at approximately $32,903,000. Albemarle comprises about 5.4% of FengHe Fund Management Pte. Ltd.'s portfolio, making the stock its 6th biggest position. FengHe Fund Management Pte. Ltd. owned about 0.45% of Albemarle at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Albemarle by 1.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock valued at $977,000 after acquiring an additional 188 shares during the period. GAMMA Investing LLC increased its holdings in Albemarle by 6,393.1% in the 1st quarter. GAMMA Investing LLC now owns 152,394 shares of the specialty chemicals company's stock valued at $10,975,000 after purchasing an additional 150,047 shares in the last quarter. Rhumbline Advisers increased its holdings in Albemarle by 15.9% in the 1st quarter. Rhumbline Advisers now owns 240,937 shares of the specialty chemicals company's stock valued at $17,352,000 after purchasing an additional 33,074 shares in the last quarter. Czech National Bank grew its stake in shares of Albemarle by 6.1% in the first quarter. Czech National Bank now owns 27,004 shares of the specialty chemicals company's stock valued at $1,945,000 after buying an additional 1,552 shares in the last quarter. Finally, Vest Financial LLC grew its position in Albemarle by 3.5% in the first quarter. Vest Financial LLC now owns 617,657 shares of the specialty chemicals company's stock valued at $44,484,000 after acquiring an additional 21,120 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Trading Up 4.1%

NYSE ALB opened at $84.42 on Thursday. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The company has a 50-day simple moving average of $79.04 and a 200-day simple moving average of $68.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. The firm has a market capitalization of $9.93 billion, a PE ratio of -9.06 and a beta of 1.66.

Albemarle (NYSE:ALB - Get Free Report) last posted 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 net margin of 18.61% and a negative return on equity of 1.87%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business 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. On average, equities analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, September 12th. Albemarle's payout ratio is -17.38%.

Wall Street Analyst Weigh In

ALB has been the subject of a number of recent analyst reports. Mizuho set a $76.00 price target on shares of Albemarle in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on Albemarle and gave the company a "hold" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Wells Fargo & Company decreased their price target on shares of Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $85.83.

Albemarle Company 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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