Albemarle Corporation $ALB Position Increased by Global X Japan Co. Ltd.

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. boosted its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 54.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. acquired a new stake in Albemarle during the first quarter valued at approximately $32,000. National Pension Service raised 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 valued at $33,000 after buying an additional 193 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Albemarle during the fourth quarter valued at approximately $35,000. Costello Asset Management INC acquired a new stake in Albemarle during the first quarter valued at approximately $36,000. Finally, Evermay Wealth Management LLC raised its stake in Albemarle by 84.1% during the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Albemarle Price Performance

Shares of ALB traded up $1.44 during trading hours on Tuesday, hitting $81.82. 863,280 shares of the company were exchanged, compared to its average volume of 3,571,514. The company has a market capitalization of $9.63 billion, a PE ratio of -8.78 and a beta of 1.64. 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 firm has a fifty day simple moving average of $77.95 and a 200-day simple moving average of $68.16. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91.

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

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.405 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.0%. Albemarle's dividend payout ratio is presently -17.38%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Mizuho set a $76.00 price objective on Albemarle in a research note on Tuesday, July 15th. Wells Fargo & Company cut their price objective 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. UBS Group upgraded Albemarle from a "sell" rating to a "neutral" rating and increased their price target for the stock from $62.00 to $89.00 in a research report on Tuesday, August 26th. Robert W. Baird increased their price target on Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a research report on Friday, August 29th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $85.83.

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.