Albemarle Corporation $ALB Shares Purchased by Jump Financial LLC

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 grew its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 106.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 415,111 shares of the specialty chemicals company's stock after purchasing an additional 214,012 shares during the quarter. Jump Financial LLC owned 0.35% of Albemarle worth $29,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WealthPlan Investment Management LLC boosted its stake in shares of Albemarle by 10.7% in the first quarter. WealthPlan Investment Management LLC now owns 50,326 shares of the specialty chemicals company's stock valued at $3,624,000 after purchasing an additional 4,872 shares during the period. Grandfield & Dodd LLC boosted its stake in shares of Albemarle by 5.2% in the first quarter. Grandfield & Dodd LLC now owns 243,036 shares of the specialty chemicals company's stock valued at $17,503,000 after purchasing an additional 12,014 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Albemarle in the first quarter worth approximately $271,000. Envestnet Asset Management Inc. lifted its stake in Albemarle by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 184,426 shares of the specialty chemicals company's stock worth $13,282,000 after acquiring an additional 6,487 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in Albemarle in the first quarter worth approximately $303,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALB. Piper Sandler set a $68.00 price target on shares of Albemarle and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised 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. Morgan Stanley cut their target price on shares of Albemarle from $68.00 to $58.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. TD Securities cut their target price on shares of Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 price objective on shares of Albemarle and gave the company a "hold" rating in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Albemarle has an average rating of "Reduce" and an average price target of $86.00.

Albemarle Trading Down 3.7%

NYSE:ALB traded down $3.26 on Thursday, reaching $84.42. The stock had a trading volume of 2,134,035 shares, compared to its average volume of 3,548,151. The company has a market cap of $9.93 billion, a price-to-earnings ratio of -9.08 and a beta of 1.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The firm's fifty day moving average is $72.68 and its two-hundred day moving average is $68.06. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91.

Albemarle (NYSE:ALB - Get Free Report) last released 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 company 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%. The firm's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. Equities analysts expect that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued 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 is Friday, September 12th. Albemarle's dividend payout ratio is presently -17.38%.

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.