J. Safra Sarasin Holding AG Buys 4,312 Shares of Albemarle Corporation $ALB

Key Points

• J. Safra Sarasin Holding AG increased its stake in Albemarle Corporation by 53.7%, acquiring an additional 4,312 shares and raising its total holdings to 12,343 shares valued at approximately $774,000.
• Albemarle reported a quarterly earnings per share of $0.11, surpassing analysts' expectations of ($0.83), but experienced a 7.0% decline in revenue compared to the previous year.
• The company has announced a quarterly dividend of $0.405, representing an annualized yield of 1.8%, with an ex-dividend date set for September 12th.

J. Safra Sarasin Holding AG increased its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 53.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,343 shares of the specialty chemicals company's stock after buying an additional 4,312 shares during the period. J. Safra Sarasin Holding AG's holdings in Albemarle were worth $774,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised 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 worth $977,000 after buying an additional 188 shares in the last quarter. National Pension Service increased its stake in shares of 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 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 purchasing an additional 228 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake 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 valued at $272,000 after purchasing an additional 239 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Albemarle by 54.4% during the first quarter. Smartleaf Asset Management LLC now owns 727 shares of the specialty chemicals company's stock valued at $52,000 after purchasing an additional 256 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Trading Up 0.5%

NYSE:ALB opened at $88.06 on Friday. The company's 50 day moving average price is $79.19 and its 200-day moving average price is $68.76. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $113.91. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of -9.45 and a beta of 1.65.

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

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 12th. Albemarle's payout ratio is -17.38%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Mizuho raised their target price on shares of Albemarle from $78.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday. 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 note on Friday, August 1st. HSBC raised their target price on shares of Albemarle from $60.00 to $75.00 and gave the company a "hold" rating in a research note on Monday, September 22nd. Baird R W downgraded shares of Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Finally, Scotiabank increased their price target on shares of Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Albemarle presently has a consensus rating of "Reduce" and a consensus price target of $86.72.

Albemarle Company Profile

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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