Old West Investment Management LLC Buys 27,545 Shares of Albemarle Corporation $ALB

Key Points

• Old West Investment Management LLC has increased its stake in Albemarle Corporation by 157% in the first quarter, owning 45,090 shares after buying an additional 27,545 shares, which are now valued at approximately $3.25 million.
• Albemarle's recent quarterly earnings beat expectations, reporting $0.11 earnings per share compared to a consensus estimate of ($0.83) and a revenue of $1.33 billion, although it experienced a year-over-year revenue decline of 7%.
• The company announced a quarterly dividend of $0.405 per share, resulting in an annualized dividend of $1.62 and a yield of 2%, with a payout ratio currently at -17.38%.

Old West Investment Management LLC grew its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 157.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,090 shares of the specialty chemicals company's stock after purchasing an additional 27,545 shares during the period. Albemarle makes up 1.2% of Old West Investment Management LLC's investment portfolio, making the stock its 26th largest holding. Old West Investment Management LLC's holdings in Albemarle were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ALB. SJS Investment Consulting Inc. bought a new stake in Albemarle during the first quarter worth about $32,000. National Pension Service boosted its stake in Albemarle by 74.5% during the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock worth $33,000 after acquiring an additional 193 shares in the last quarter. Orion Capital Management LLC bought a new stake in Albemarle during the fourth quarter worth about $35,000. Costello Asset Management INC bought a new stake in Albemarle during the first quarter worth about $36,000. Finally, Evermay Wealth Management LLC boosted its stake 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 acquiring an additional 306 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Up 3.0%

ALB opened at $81.2970 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $71.27 and a 200-day moving average price of $67.80. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $113.91. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of -8.72 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 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the company earned $0.04 earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. Equities research analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Albemarle's payout ratio is presently -17.38%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALB. Piper Sandler set a $68.00 price objective on shares of Albemarle and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. UBS Group boosted their price objective on shares of Albemarle from $57.00 to $62.00 and gave the stock a "sell" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on shares of Albemarle and gave the stock a "hold" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their target price on shares of Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, TD Securities dropped their target price on shares of Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $89.17.

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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