Naples Global Advisors LLC Sells 15,515 Shares of Albemarle Corporation $ALB

Key Points

• Naples Global Advisors LLC has reduced its stake in Albemarle Corporation by 45.2%, selling 15,515 shares, and now holds 18,785 shares valued at $1,185,000.
• Albemarle's recent earnings report showed a profit of $0.11 EPS, significantly beating estimates of a loss of ($0.83), although revenue declined by 7.0% year-over-year.
• The company declared a quarterly dividend of $0.405, reflecting a 1.9% dividend yield, despite a negative payout ratio of -17.38%.

Naples Global Advisors LLC decreased its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 45.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,785 shares of the specialty chemicals company's stock after selling 15,515 shares during the period. Naples Global Advisors LLC's holdings in Albemarle were worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Albemarle by 0.5% during the first quarter. Vanguard Group Inc. now owns 14,672,272 shares of the specialty chemicals company's stock worth $1,056,697,000 after purchasing an additional 77,773 shares during the period. Dimensional Fund Advisors LP grew its holdings in Albemarle by 28.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company's stock worth $110,814,000 after purchasing an additional 343,210 shares during the period. Manning & Napier Advisors LLC grew its holdings in Albemarle by 17.4% during the first quarter. Manning & Napier Advisors LLC now owns 1,167,520 shares of the specialty chemicals company's stock worth $84,085,000 after purchasing an additional 173,441 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Albemarle by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,072,921 shares of the specialty chemicals company's stock worth $77,272,000 after purchasing an additional 31,951 shares during the period. Finally, PGGM Investments grew its holdings in Albemarle by 90.4% during the second quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company's stock worth $67,052,000 after purchasing an additional 507,975 shares during the period. Institutional investors own 92.87% of the company's stock.

Albemarle Trading Up 3.6%

Shares of ALB stock opened at $87.49 on Friday. 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 stock has a market cap of $10.30 billion, a P/E ratio of -9.39 and a beta of 1.65. The stock has a 50 day simple moving average of $79.10 and a 200 day simple moving average of $68.77. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $113.91.

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. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. On average, research analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

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

Wall Street Analysts Forecast Growth

ALB has been the subject of a number of research analyst reports. Mizuho set a $76.00 price target on Albemarle in a report on Tuesday, July 15th. Wells Fargo & Company reduced their price objective on Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Scotiabank boosted their price objective on Albemarle from $65.00 to $70.00 and gave the stock 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 boosted their price objective for the stock from $62.00 to $89.00 in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average 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.

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