Northern Trust Corp Has $90.32 Million Stock Holdings in Albemarle Corporation $ALB

Key Points

• Northern Trust Corp has reduced its stake in Albemarle Corporation by 2.8%, selling 36,765 shares, and now holds a total of 1,254,032 shares worth approximately $90.3 million.
• Several institutional investors have recently adjusted their positions in Albemarle, with the National Pension Service increasing its stake by 74.5%.
• Albemarle announced a quarterly dividend of $0.405 per share, with a dividend yield of 2.0%, to be paid on October 1st.

Northern Trust Corp lessened its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,254,032 shares of the specialty chemicals company's stock after selling 36,765 shares during the quarter. Northern Trust Corp owned about 1.07% of Albemarle worth $90,315,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. SJS Investment Consulting Inc. acquired a new position in Albemarle in the first quarter valued at about $32,000. National Pension Service lifted its stake in Albemarle by 74.5% in the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after buying an additional 193 shares during the period. Orion Capital Management LLC acquired a new position in Albemarle in the fourth quarter valued at about $35,000. Costello Asset Management INC acquired a new position in Albemarle in the first quarter valued at about $36,000. Finally, Evermay Wealth Management LLC lifted its stake in Albemarle by 84.1% in the first quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

ALB has been the topic of several analyst reports. TD Securities cut their target price on Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Baird R W downgraded Albemarle from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Deutsche Bank Aktiengesellschaft set a $74.00 price target on Albemarle and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, UBS Group upgraded Albemarle from a "sell" rating to a "neutral" rating and raised their price target for the company from $62.00 to $89.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $86.47.

Albemarle Stock Performance

Shares of ALB traded down $0.17 during mid-day trading on Friday, reaching $84.75. The company's stock had a trading volume of 1,023,436 shares, compared to its average volume of 3,542,125. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91. The stock has a market cap of $9.97 billion, a P/E ratio of -9.09 and a beta of 1.63. The business has a 50-day simple moving average of $73.19 and a two-hundred day simple moving average of $68.13. 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 (NYSE:ALB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.94. The company 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 business's revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Albemarle Corporation will post -0.04 earnings per share 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 issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's dividend payout ratio (DPR) is presently -17.38%.

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.