Polianta Ltd Buys 6,100 Shares of Albemarle Corporation $ALB

Key Points

• Polianta Ltd increased its holdings in Albemarle Corporation by 44.2%, owning a total of 19,900 shares worth approximately $1.25 million following the acquisition of 6,100 shares.
• Albemarle recently reported a quarterly earnings per share of $0.11, surpassing analyst estimates, despite a 7% year-over-year revenue decline to $1.33 billion.
• The company also announced a quarterly dividend of $0.405 per share, with a dividend yield of 2.0%, scheduled for payment on October 1st.

Polianta Ltd raised its stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 44.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,900 shares of the specialty chemicals company's stock after buying an additional 6,100 shares during the quarter. Polianta Ltd's holdings in Albemarle were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. bought a new stake in Albemarle in the first quarter worth $32,000. National Pension Service lifted its position in shares of 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 during the last quarter. Orion Capital Management LLC bought a new stake in shares of Albemarle in the fourth quarter valued at about $35,000. Costello Asset Management INC purchased a new position in Albemarle in the first quarter valued at about $36,000. Finally, Evermay Wealth Management LLC grew 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 purchasing an additional 306 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Stock Performance

Shares of NYSE:ALB traded up $0.91 during trading on Friday, hitting $81.84. 3,672,039 shares of the company traded hands, compared to its average volume of 3,641,829. Albemarle Corporation has a one year low of $49.43 and a one year high of $113.91. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of -8.78 and a beta of 1.65. The business's fifty day moving average is $77.78 and its 200-day moving average is $68.18. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38.

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 analysts' consensus estimates of ($0.83) by $0.94. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates 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 last year, the company posted $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. KeyCorp reiterated a "sector weight" rating on shares of Albemarle in a research report on Wednesday, July 30th. Baird R W lowered Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Scotiabank raised their target price on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $74.00 target price on Albemarle and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Robert W. Baird raised their price target on Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a research note on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $86.47.

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.