HB Wealth Management LLC Has $2 Million Position in Albemarle Corporation $ALB

Key Points

• HB Wealth Management LLC reduced its stake in Albemarle Corporation by 92.5% during the second quarter, bringing its holdings to 31,956 shares, valued at approximately $2 million.
• Analysts have set varied price targets for Albemarle, with Deutsche Bank setting a target of $74.00 and Robert W. Baird raising it to $68.00, while the stock has a consensus rating of "Reduce" and an average price target of $85.83.
• Albemarle recently declared a quarterly dividend of $0.405 per share, resulting in an annualized dividend of $1.62 and a dividend yield of 1.9%.

HB Wealth Management LLC lessened its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 92.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,956 shares of the specialty chemicals company's stock after selling 393,989 shares during the period. HB Wealth Management LLC's holdings in Albemarle were worth $2,003,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings 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 purchasing an additional 188 shares during the period. National Pension Service grew 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 valued at $33,000 after purchasing an additional 193 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Albemarle by 2.6% in the 1st 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 buying an additional 228 shares during the period. OneDigital Investment Advisors LLC lifted its position in Albemarle by 6.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock worth $272,000 after buying an additional 239 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Albemarle by 54.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 727 shares of the specialty chemicals company's stock valued at $52,000 after buying an additional 256 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on Albemarle and gave the stock a "hold" rating in a report on Monday, August 4th. Robert W. Baird raised their price target on Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a research note on Friday, August 29th. Wall Street Zen raised Albemarle from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. KeyCorp reaffirmed a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their target price 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 investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Albemarle currently has a consensus rating of "Reduce" and an average price target of $85.83.

Albemarle Trading Up 3.6%

NYSE:ALB opened at $87.49 on Friday. The company's 50 day moving average is $79.10 and its 200-day moving average is $68.77. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of -9.39 and a beta of 1.65.

Albemarle (NYSE:ALB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.94. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. Albemarle'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. Equities analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was 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.

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