Fiduciary Alliance LLC Makes New $353,000 Investment in Albemarle Corporation $ALB

Key Points

• Fiduciary Alliance LLC acquired a new stake of 5,625 shares in Albemarle Corporation, valued at approximately $353,000, marking a significant investment in the specialty chemicals firm.
• Albemarle recently reported earnings of $0.11 per share for the quarter, notably surpassing analysts' expectations of a loss, although revenue declined by 7% year-over-year.
• Shares of Albemarle are currently trading at $80.95 with an average target price of $86.47, and the company has announced a quarterly dividend of $0.405 per share.

Fiduciary Alliance LLC acquired a new stake in Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,625 shares of the specialty chemicals company's stock, valued at approximately $353,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock valued at $3,414,000 after buying an additional 158 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Albemarle by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock worth $977,000 after purchasing an additional 188 shares in the last quarter. National Pension Service increased its position in shares of Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after purchasing an additional 193 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Albemarle by 2.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock valued at $650,000 after purchasing an additional 228 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position 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. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALB shares. Wells Fargo & Company decreased their target price on shares of Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Scotiabank increased their price objective on Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. KeyCorp reaffirmed a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Finally, UBS Group upgraded shares of Albemarle from a "sell" rating to a "neutral" rating and increased their price target for the company from $62.00 to $89.00 in a research report on Tuesday, August 26th. 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. Based on data from MarketBeat.com, Albemarle presently has a consensus rating of "Reduce" and an average price target of $86.47.

Albemarle Trading Up 1.1%

Shares of ALB traded up $0.91 during trading hours on Friday, hitting $81.84. 3,672,039 shares of the stock were exchanged, compared to its average volume of 3,641,829. The firm has a market capitalization of $9.63 billion, a P/E ratio of -8.78 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The business has a 50-day moving average of $77.78 and a 200-day moving average of $68.22.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.94. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate 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 was down 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. On average, research analysts expect that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued 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 dividend payout ratio is presently -17.38%.

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.