Koss Olinger Consulting LLC Lowers Stock Position in Albemarle Corporation (NYSE:ALB)

Key Points

• Koss Olinger Consulting LLC reduced its stake in Albemarle Corporation by 22.9%, now holding 15,146 shares valued at approximately $1,091,000.
• Albemarle's recent quarterly earnings showed an EPS of $0.11, significantly beating estimates, despite a 7% decline in revenue compared to the previous year.
• A quarterly dividend of $0.405 per share will be paid to shareholders on October 1st, representing an annualized yield of 2.1%.

Koss Olinger Consulting LLC reduced its position in Albemarle Corporation (NYSE:ALB - Free Report) by 22.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,146 shares of the specialty chemicals company's stock after selling 4,497 shares during the quarter. Koss Olinger Consulting LLC's holdings in Albemarle were worth $1,091,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. bought a new position in Albemarle during the first quarter worth $32,000. Orion Capital Management LLC acquired a new position in Albemarle during the fourth quarter worth $35,000. Costello Asset Management INC acquired a new position in Albemarle during the first quarter worth $36,000. Evermay Wealth Management LLC raised its holdings in Albemarle by 84.1% during the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock worth $48,000 after buying an additional 306 shares during the last quarter. Finally, Chapman Financial Group LLC purchased a new stake in shares of Albemarle in the fourth quarter valued at about $60,000. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Albemarle from $68.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. 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. Robert W. Baird restated an "underperform" rating and set a $60.00 price objective on shares of Albemarle in a report on Tuesday, July 29th. UBS Group raised their price objective on shares of Albemarle from $57.00 to $62.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Finally, Baird R W downgraded shares of Albemarle from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 29th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $88.06.

Albemarle Price Performance

Shares of ALB stock traded down $2.75 during trading hours on Tuesday, reaching $78.01. The stock had a trading volume of 5,412,982 shares, compared to its average volume of 3,564,155. The stock's fifty day simple moving average is $67.76 and its 200 day simple moving average is $67.99. 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 Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The firm has a market capitalization of $9.18 billion, a PE ratio of -8.37 and a beta of 1.63.

Albemarle (NYSE:ALB - Get Free Report) last released 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 company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business earned $0.04 earnings per share. Albemarle's revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's dividend payout ratio (DPR) is currently -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.