PGGM Investments Raises Holdings in Albemarle Corporation $ALB

Key Points

• PGGM Investments increased its stake in Albemarle Corporation by 90.4%, acquiring 507,975 additional shares, bringing its total ownership to approximately 1,069,924 shares valued at $67 million.
• Albemarle reported a negative earnings per share (EPS) of $0.11 for the last quarter, exceeding analysts' estimates of a loss of $0.83, with revenue surpassing expectations at $1.33 billion.
• The company announced a quarterly dividend of $0.405, with a 2.0% yield, to be paid on October 1st, while the stock currently has a market capitalization of $9.53 billion.

PGGM Investments boosted its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 90.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,069,924 shares of the specialty chemicals company's stock after purchasing an additional 507,975 shares during the quarter. PGGM Investments owned approximately 0.91% of Albemarle worth $67,052,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. purchased a new position in Albemarle during the first quarter worth approximately $32,000. National Pension Service boosted its position 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 purchasing an additional 193 shares in the last quarter. Costello Asset Management INC purchased a new position in Albemarle during the first quarter worth approximately $36,000. ST Germain D J Co. Inc. purchased a new position in Albemarle during the second quarter worth approximately $47,000. Finally, Evermay Wealth Management LLC boosted its position 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 purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Albemarle Stock Performance

NYSE ALB opened at $80.97 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. The stock's fifty day moving average is $78.93 and its two-hundred day moving average is $68.61. The firm has a market capitalization of $9.53 billion, a P/E ratio of -8.69 and a beta of 1.65. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91.

Albemarle (NYSE:ALB - Get Free Report) last issued its 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 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 firm's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Albemarle's dividend payout ratio is presently -17.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALB shares. Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Baird R W downgraded Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft set a $74.00 price target on Albemarle and gave the stock a "hold" rating in a research report on Monday, August 4th. Mizuho set a $76.00 target price on Albemarle in a report on Tuesday, July 15th. Finally, Scotiabank increased 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. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price 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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