Lbp Am Sa Invests $3.57 Million in Albemarle Corporation $ALB

Key Points

• Lbp Am Sa has invested approximately $3.57 million in Albemarle Corporation, acquiring 56,891 shares during the 2nd quarter.
• Albemarle recently reported a quarterly earnings result with an EPS of $0.11, exceeding analysts' expectations, despite a year-over-year revenue decline of 7.0%.
• The company declared a quarterly dividend of $0.405 per share, representing an annualized dividend yield of 1.9% and a negative payout ratio of -17.38%.

Lbp Am Sa bought a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 56,891 shares of the specialty chemicals company's stock, valued at approximately $3,565,000.

Several other institutional investors have also added to or reduced their stakes in the company. PGGM Investments boosted its stake in Albemarle by 90.4% in the 2nd quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company's stock valued at $67,052,000 after purchasing an additional 507,975 shares during the period. Eagle Bluffs Wealth Management LLC boosted its stake in Albemarle by 16.8% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,101 shares of the specialty chemicals company's stock valued at $889,000 after purchasing an additional 2,030 shares during the period. Greenleaf Trust boosted its stake in Albemarle by 10.5% in the 2nd quarter. Greenleaf Trust now owns 6,231 shares of the specialty chemicals company's stock valued at $390,000 after purchasing an additional 590 shares during the period. Janney Montgomery Scott LLC boosted its stake in Albemarle by 1.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 114,563 shares of the specialty chemicals company's stock valued at $7,180,000 after purchasing an additional 2,055 shares during the period. Finally, ST Germain D J Co. Inc. bought a new stake in Albemarle in the 2nd quarter valued at $47,000. 92.87% of the stock is currently owned by institutional investors.

Albemarle Price Performance

Albemarle stock opened at $87.49 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $113.91. The stock has a market capitalization of $10.30 billion, a P/E ratio of -9.39 and a beta of 1.65. The stock has a fifty day moving average of $79.10 and a 200-day moving average of $68.77.

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, topping 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 company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the firm earned $0.04 EPS. Albemarle's revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.9%. Albemarle's payout ratio is -17.38%.

Analysts Set New Price Targets

Several analysts recently issued reports on ALB shares. JPMorgan Chase & Co. boosted their price target on Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. HSBC upped their target price on Albemarle from $60.00 to $75.00 and gave the company a "hold" rating in a research report on Monday, September 22nd. Wells Fargo & Company cut their target price on Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Finally, UBS Group upgraded Albemarle from a "sell" rating to a "neutral" rating and upped their target price for the company from $62.00 to $89.00 in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $85.83.

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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