Revisor Wealth Management LLC Makes New Investment in Albemarle Corporation (NYSE:ALB)

Revisor Wealth Management LLC purchased a new stake in shares of Albemarle Corporation (NYSE:ALB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,525 shares of the specialty chemicals company's stock, valued at approximately $400,000.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Albemarle during the fourth quarter worth about $39,405,000. Vanguard Group Inc. raised its position in shares of Albemarle by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 14,594,499 shares of the specialty chemicals company's stock worth $1,256,294,000 after acquiring an additional 359,014 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Albemarle by 36.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,192,527 shares of the specialty chemicals company's stock worth $102,653,000 after acquiring an additional 320,150 shares during the last quarter. Manning & Napier Advisors LLC raised its position in shares of 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 acquiring an additional 173,441 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Albemarle by 6,393.1% during the first quarter. GAMMA Investing LLC now owns 152,394 shares of the specialty chemicals company's stock worth $10,975,000 after acquiring an additional 150,047 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Down 2.5%

Albemarle stock traded down $1.66 during trading on Monday, hitting $65.55. 2,954,798 shares of the company were exchanged, compared to its average volume of 2,858,515. The business's 50 day moving average is $60.20 and its 200 day moving average is $70.86. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $113.91. The company has a market capitalization of $7.71 billion, a P/E ratio of -5.89 and a beta of 1.63. The company has a current ratio of 2.11, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.44. Albemarle had a negative return on equity of 1.92% and a negative net margin of 22.39%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. Albemarle's revenue was down 20.9% compared to the same quarter last year. Analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.62 annualized dividend and a yield of 2.47%. Albemarle's dividend payout ratio is currently -14.57%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALB. KeyCorp lowered their target price on Albemarle from $102.00 to $95.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. TD Securities lowered their target price on Albemarle from $115.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Piper Sandler set a $68.00 target price on Albemarle and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Wall Street Zen upgraded Albemarle to a "sell" rating in a report on Monday, May 5th. Finally, Citigroup lowered their target price on Albemarle from $85.00 to $64.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $91.62.

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.