Ieq Capital LLC Makes New $5.94 Million Investment in Albemarle Corporation $ALB

Key Points

• Ieq Capital acquired 43,967 Albemarle shares during the second quarter, valued at approximately $5.94 million. Institutional investors collectively own 92.87% of the company.
• Albemarle exceeded quarterly expectations, reporting $3.75 in earnings per share and $1.74 billion in revenue, with revenue rising 31.1% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $190.26, while recent target revisions ranged from $175 to $250. The company also declared a $0.41 quarterly dividend, yielding about 1.1%.

Ieq Capital LLC bought a new position in Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 43,967 shares of the specialty chemicals company's stock, valued at approximately $5,937,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALB. Addison Advisors LLC bought a new stake in Albemarle in the 2nd quarter valued at $28,000. Elyxium Wealth LLC bought a new position in shares of Albemarle during the 4th quarter valued at about $34,000. Torren Management LLC purchased a new position in shares of Albemarle during the fourth quarter valued at about $38,000. Sound Income Strategies LLC grew its position in shares of Albemarle by 190.1% during the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company's stock valued at $52,000 after purchasing an additional 192 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in shares of Albemarle by 121.5% in the fourth quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company's stock worth $42,000 after purchasing an additional 164 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

ALB opened at $142.99 on Monday. The firm has a 50 day moving average of $132.04 and a two-hundred day moving average of $160.70. The firm has a market capitalization of $16.87 billion, a PE ratio of 529.61 and a beta of 1.33. The company has a current ratio of 2.09, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22. Albemarle Corporation has a 12-month low of $71.25 and a 12-month high of $221.00.

Albemarle (NYSE:ALB - Get Free Report) last released its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%.The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $0.11 earnings per share. The business's quarterly revenue was up 31.1% compared to the same quarter last year. On average, analysts anticipate that Albemarle Corporation will post 11.63 EPS for the current year.

Albemarle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.1%. This is an increase from Albemarle's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, September 11th. Albemarle's dividend payout ratio is presently 600.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ALB shares. Wall Street Zen downgraded shares of Albemarle from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Zacks Research cut shares of Albemarle from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Scotiabank reduced their target price on shares of Albemarle from $200.00 to $190.00 and set a "sector outperform" rating on the stock in a report on Monday, August 10th. Citigroup decreased their target price on shares of Albemarle from $225.00 to $175.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Albemarle from $210.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Fifteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $190.26.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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