Sava Infond d.o.o. Purchases 16,900 Shares of Albemarle Corporation $ALB

Key Points

• Sava Infond d.o.o. increased its stake in Albemarle Corporation by 73.4% during the 2nd quarter, owning a total of 39,910 shares, now valued at approximately $2.5 million.
• Equities analysts have mixed opinions on Albemarle, with a consensus rating of "Reduce" and average target prices ranging from $58.00 to $92.00.
• Albemarle declared a quarterly dividend of $0.405 per share, reflecting a dividend yield of 1.8% as of the recent payment date.

Sava Infond d.o.o. boosted its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 73.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,910 shares of the specialty chemicals company's stock after purchasing an additional 16,900 shares during the period. Sava Infond d.o.o.'s holdings in Albemarle were worth $2,501,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. 111 Capital bought a new position in Albemarle during the 2nd quarter valued at about $393,000. QRG Capital Management Inc. grew its holdings in Albemarle by 25.7% during the 2nd quarter. QRG Capital Management Inc. now owns 3,688 shares of the specialty chemicals company's stock valued at $231,000 after purchasing an additional 755 shares during the last quarter. Ping Capital Management Inc. grew its holdings in Albemarle by 124.7% during the 2nd quarter. Ping Capital Management Inc. now owns 16,400 shares of the specialty chemicals company's stock valued at $1,028,000 after purchasing an additional 9,100 shares during the last quarter. J. Safra Sarasin Holding AG grew its holdings in Albemarle by 53.7% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 12,343 shares of the specialty chemicals company's stock valued at $774,000 after purchasing an additional 4,312 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. grew its holdings in Albemarle by 8.3% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 23,131 shares of the specialty chemicals company's stock valued at $1,450,000 after purchasing an additional 1,775 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Albemarle from $58.00 to $68.00 and gave the company an "underperform" rating in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Albemarle from $60.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Albemarle in a research report on Saturday, September 27th. Mizuho boosted their price objective on shares of Albemarle from $78.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Baird R W cut shares of Albemarle from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $86.72.

Albemarle Price Performance

Shares of ALB opened at $88.06 on Friday. The company has a 50 day moving average price of $79.19 and a 200-day moving average price of $68.84. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The stock has a market capitalization of $10.36 billion, a PE ratio of -9.45 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $0.04 EPS. The company's revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. Equities analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 12th. Albemarle's dividend payout ratio is presently -17.38%.

About Albemarle

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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