Global X Japan Co. Ltd. Boosts Stock Position in Albemarle Corporation $ALB

Key Points

• Global X Japan Co. Ltd. increased its stake in Albemarle Corporation by 54.5%, acquiring an additional 3,786 shares, bringing its total holdings to 10,737 shares valued at $673,000.
• Albemarle's stock opened at $81.84, with a market cap of $9.63 billion and a one-year price range of $49.43 to $113.91.
• The company plans to issue a quarterly dividend of $0.405 on October 1st, representing an annual yield of 2.0%.

Global X Japan Co. Ltd. raised its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 54.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,737 shares of the specialty chemicals company's stock after purchasing an additional 3,786 shares during the period. Global X Japan Co. Ltd.'s holdings in Albemarle were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALB. Toronto Dominion Bank grew its stake in shares of Albemarle by 0.4% in the 4th 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 period. Wealth Enhancement Advisory Services LLC grew its stake in Albemarle by 1.7% in the fourth 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. National Pension Service grew its stake in Albemarle by 74.5% in the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 193 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of 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 valued at $650,000 after acquiring an additional 228 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in shares of Albemarle by 6.7% during 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.

Analyst Ratings Changes

ALB has been the subject of several research reports. Wells Fargo & Company reduced 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. Wall Street Zen raised shares of Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Scotiabank raised their price target on shares of Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, KeyCorp reissued a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $85.83.

Albemarle Stock Performance

ALB stock traded down $1.39 during mid-day trading on Monday, hitting $80.45. The company had a trading volume of 2,465,594 shares, compared to its average volume of 3,586,603. 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 cap of $9.47 billion, a PE ratio of -8.63 and a beta of 1.65. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The stock's fifty day moving average price is $77.78 and its two-hundred day moving average price is $68.12.

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, topping analysts' consensus estimates 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 company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. Albemarle's revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The company 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 $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Albemarle's payout ratio is currently -17.38%.

About Albemarle

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.