MBB Public Markets I LLC Acquires Shares of 4,097 Albemarle Corporation $ALB

Key Points

• MBB Public Markets I LLC made a new investment of approximately $295,000 in Albemarle Corporation, acquiring 4,097 shares during the first quarter.
• Albemarle announced a quarterly dividend of $0.405 per share, representing a 2.2% dividend yield, with the ex-dividend date set for September 12th.
• The company reported earnings of $0.11 EPS, significantly beating analysts' estimates of ($0.83), despite experiencing a 7.0% decline in revenue year-over-year.

MBB Public Markets I LLC purchased a new stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,097 shares of the specialty chemicals company's stock, valued at approximately $295,000.

Several other hedge funds and other institutional investors have also modified their holdings of ALB. United Services Automobile Association acquired a new stake in Albemarle during the first quarter valued at $208,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Albemarle by 47.0% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 56,394 shares of the specialty chemicals company's stock worth $4,061,000 after purchasing an additional 18,022 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Albemarle during the 1st quarter valued at about $232,000. Jones Financial Companies Lllp grew its stake in shares of Albemarle by 39.0% in the 1st quarter. Jones Financial Companies Lllp now owns 32,362 shares of the specialty chemicals company's stock valued at $2,331,000 after buying an additional 9,074 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Albemarle in the 1st quarter valued at approximately $764,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Performance

ALB traded down $1.33 on Wednesday, hitting $79.62. 416,652 shares of the stock traded hands, compared to its average volume of 3,587,498. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $113.91. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $9.37 billion, a PE ratio of -8.54 and a beta of 1.65. The business has a fifty day moving average price of $77.25 and a two-hundred day moving average price of $68.00.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $0.04 earnings per share. The company's quarterly revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. On average, research analysts predict that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Albemarle's payout ratio is currently -17.38%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALB. Wall Street Zen upgraded shares of Albemarle from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Mizuho set a $76.00 price objective on shares of Albemarle in a report on Tuesday, July 15th. Robert W. Baird raised their target price on Albemarle from $58.00 to $68.00 and gave the company an "underperform" rating in a report on Friday, August 29th. Scotiabank raised their target price on Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Finally, UBS Group upgraded Albemarle from a "sell" rating to a "neutral" rating and raised their target price for the company from $62.00 to $89.00 in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $86.47.

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.