Jump Financial LLC Has $29.90 Million Stock Position in Albemarle Corporation $ALB

Key Points

• Jump Financial LLC increased its stake in Albemarle Corporation by 106.4%, owning approximately 0.35% of the company with a valuation of $29.9 million as of the latest SEC filing.
• Albemarle's stock price rose by 3.0%, trading at $81.30 with a market cap of $9.57 billion, while experiencing a year-over-year revenue decrease of 7%.
• The company recently announced a quarterly dividend of $0.405 per share, resulting in an annualized yield of 2.0%, with a payout ratio currently at -17.38%.

Jump Financial LLC lifted its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 106.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,111 shares of the specialty chemicals company's stock after buying an additional 214,012 shares during the quarter. Jump Financial LLC owned approximately 0.35% of Albemarle worth $29,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in Albemarle by 54.4% in 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 during the period. AlphaQuest LLC grew its holdings in Albemarle by 177,350.0% in the first quarter. AlphaQuest LLC now owns 3,549 shares of the specialty chemicals company's stock valued at $256,000 after purchasing an additional 3,547 shares during the period. Kestra Advisory Services LLC grew its holdings in Albemarle by 6.1% in the first quarter. Kestra Advisory Services LLC now owns 13,165 shares of the specialty chemicals company's stock valued at $948,000 after purchasing an additional 754 shares during the period. Allstate Corp grew its holdings in Albemarle by 110.2% in the first quarter. Allstate Corp now owns 7,459 shares of the specialty chemicals company's stock valued at $537,000 after purchasing an additional 3,910 shares during the period. Finally, Compound Planning Inc. grew its stake in Albemarle by 116.6% during the first quarter. Compound Planning Inc. now owns 5,084 shares of the specialty chemicals company's stock worth $366,000 after buying an additional 2,737 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on shares of Albemarle and gave the stock a "hold" rating in a research note on Monday, August 4th. Piper Sandler set a $68.00 price objective on shares of Albemarle and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Mizuho set a $76.00 price objective on shares of Albemarle in a research report on Tuesday, July 15th. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Albemarle has a consensus rating of "Reduce" and a consensus price target of $90.67.

Albemarle Trading Up 7.5%

Shares of ALB traded up $6.15 during midday trading on Wednesday, hitting $87.68. The stock had a trading volume of 5,501,507 shares, compared to its average volume of 3,557,673. The business has a 50-day simple moving average of $72.12 and a two-hundred day simple moving average of $67.92. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The firm has a market cap of $10.32 billion, a P/E ratio of -9.41 and a beta of 1.63. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm's revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.8%. Albemarle's dividend payout ratio is -17.38%.

Albemarle 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.