Greenline Partners LLC lifted its position in Albemarle Corporation (NYSE:ALB - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,472 shares of the specialty chemicals company's stock after buying an additional 10,878 shares during the quarter. Greenline Partners LLC's holdings in Albemarle were worth $3,995,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Albemarle in the 4th quarter valued at approximately $35,000. SJS Investment Consulting Inc. bought a new stake in Albemarle during the first quarter worth approximately $32,000. National Pension Service boosted its position in Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock worth $33,000 after purchasing an additional 193 shares during the period. Costello Asset Management INC bought a new stake in Albemarle during the first quarter worth approximately $36,000. Finally, Evermay Wealth Management LLC boosted its position in Albemarle by 84.1% during the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock worth $48,000 after purchasing an additional 306 shares during the period. Institutional investors own 92.87% of the company's stock.
Albemarle Price Performance
Shares of ALB stock opened at $80.01 on Thursday. The stock's fifty day moving average is $75.07 and its 200-day moving average is $68.24. 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 stock has a market capitalization of $9.42 billion, a PE ratio of -8.58 and a beta of 1.65. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $113.91.
Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.83) by $0.94. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. Equities research analysts expect that Albemarle Corporation will post -0.04 EPS for the current fiscal year.
Albemarle Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.62 annualized dividend and a yield of 2.0%. Albemarle's dividend payout ratio is presently -17.38%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Wall Street Zen raised Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. upped their price target on Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Deutsche Bank Aktiengesellschaft set a $74.00 price target on Albemarle and gave the stock a "hold" rating in a report on Monday, August 4th. UBS Group upgraded Albemarle from a "sell" rating to a "neutral" rating and upped their price target for the stock from $62.00 to $89.00 in a report on Tuesday, August 26th. Finally, Baird R W lowered Albemarle from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $86.47.
Read Our Latest Analysis on ALB
About Albemarle
(
Free Report)
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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