Kingstone Capital Partners Texas LLC Takes $3.48 Million Position in Albemarle Corporation $ALB

Key Points

• Kingstone Capital Partners Texas LLC has invested approximately $3.48 million in Albemarle Corporation, acquiring 55,500 shares in the second quarter.
• Analysts have mixed ratings on Albemarle, with three analysts issuing a Buy rating, ten a Hold rating, and four a Sell rating, while the consensus target price stands at $86.47.
• Albemarle recently announced a quarterly dividend of $0.405 per share, representing an annualized dividend of $1.62 and a dividend yield of 2.0%.

Kingstone Capital Partners Texas LLC acquired a new position in Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,500 shares of the specialty chemicals company's stock, valued at approximately $3,478,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of Albemarle by 0.4% in the 4th quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock worth $3,414,000 after buying an additional 158 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in 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 worth $977,000 after purchasing an additional 188 shares in the last quarter. National Pension Service lifted its position in Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 193 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Albemarle by 2.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock worth $650,000 after acquiring an additional 228 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of 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 during the last quarter. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

NYSE ALB traded down $1.39 during trading hours on Monday, hitting $80.45. 2,536,402 shares of the stock were exchanged, compared to its average volume of 3,681,647. The company has a market cap of $9.47 billion, a price-to-earnings ratio of -8.63 and a beta of 1.64. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91. The stock has a 50-day moving average of $77.95 and a 200 day moving average of $68.16. 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 (NYSE:ALB - Get Free Report) last announced its 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 return on equity of 1.87% and a negative net margin of 18.61%.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 firm earned $0.04 EPS. Albemarle's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The company 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 $0.405 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 2.0%. Albemarle's dividend payout ratio is -17.38%.

Wall Street Analyst Weigh In

ALB has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a report on Friday, August 29th. Baird R W downgraded shares of Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, HSBC boosted their price objective on shares of Albemarle from $60.00 to $75.00 and gave the company a "hold" rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $85.83.

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.