SCS Capital Management LLC Takes Position in Albemarle Corporation $ALB

Key Points

• SCS Capital Management LLC has acquired a new stake in Albemarle Corporation by purchasing 40,910 shares valued at approximately $2.96 million.
• Albemarle recently reported earnings of $0.11 EPS, exceeding estimates and generating revenue of $1.33 billion for the quarter, despite a 7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.405, representing a 2.2% yield, with the ex-dividend date set for September 12th.

SCS Capital Management LLC bought a new position in shares of Albemarle Corporation (NYSE:ALB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 40,910 shares of the specialty chemicals company's stock, valued at approximately $2,963,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Albemarle by 0.4% during the 4th quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company's stock valued at $3,414,000 after acquiring an additional 158 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Albemarle by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company's stock valued at $977,000 after acquiring an additional 188 shares in the last quarter. National Pension Service raised its holdings in Albemarle by 74.5% in the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 193 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Albemarle by 2.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock valued at $650,000 after acquiring an additional 228 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in Albemarle by 6.7% in the first quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock valued at $272,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Albemarle Stock Up 6.2%

Shares of ALB traded up $4.75 during trading on Monday, reaching $80.73. The company's stock had a trading volume of 2,766,484 shares, compared to its average volume of 3,599,896. The company has a fifty day moving average of $76.73 and a two-hundred day moving average of $67.88. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $113.91. The company has a market cap of $9.50 billion, a price-to-earnings ratio of -8.65 and a beta of 1.64. 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 announced its 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. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $0.04 EPS. Albemarle's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have commented on ALB. Baird R W lowered shares of Albemarle from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 29th. Wells Fargo & Company decreased their price target on Albemarle from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Robert W. Baird raised their target price on Albemarle from $58.00 to $68.00 and gave the company an "underperform" rating in a report on Friday, August 29th. Mizuho set a $76.00 price target on Albemarle in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 price target on Albemarle and gave the stock a "hold" rating in a research note on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price 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.