Stratos Wealth Partners LTD. trimmed its holdings in Albemarle Corporation (NYSE:ALB - Free Report) by 80.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,846 shares of the specialty chemicals company's stock after selling 11,456 shares during the period. Stratos Wealth Partners LTD.'s holdings in Albemarle were worth $205,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Albemarle during the 4th quarter valued at $34,000. Orion Capital Management LLC acquired a new stake in shares of Albemarle during the 4th quarter worth about $35,000. SJS Investment Consulting Inc. bought a new stake in shares of Albemarle during the 1st quarter worth about $32,000. Allianz SE acquired a new position in Albemarle in the 4th quarter valued at about $44,000. Finally, Chapman Financial Group LLC bought a new position in Albemarle in the 4th quarter valued at about $60,000. 92.87% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ALB has been the topic of several research reports. Robert W. Baird decreased their target price on Albemarle from $77.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler set a $68.00 price objective on Albemarle and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. UBS Group set a $57.00 target price on shares of Albemarle and gave the company a "sell" rating in a research report on Friday, July 11th. TD Securities lowered their price target on shares of Albemarle from $115.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, KeyCorp cut their price objective on shares of Albemarle from $95.00 to $87.00 and set an "overweight" rating for the company in a report on Monday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $91.00.
View Our Latest Stock Analysis on ALB
Albemarle Price Performance
Shares of ALB traded up $1.38 during mid-day trading on Friday, reaching $77.12. The company had a trading volume of 6,219,663 shares, compared to its average volume of 2,928,029. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of -6.94 and a beta of 1.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 2.11. The company's 50 day simple moving average is $62.37 and its 200 day simple moving average is $70.17. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91.
Albemarle (NYSE:ALB - Get Free Report) last posted its earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.62) by $0.44. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.18 billion. Albemarle had a negative net margin of 22.39% and a negative return on equity of 1.92%. The company's revenue was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Analysts expect that Albemarle Corporation will post -0.04 EPS for the current year.
Albemarle Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.62 dividend on an annualized basis and a yield of 2.10%. Albemarle's payout ratio is presently -14.57%.
Albemarle Profile
(
Free Report)
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.
Read More
Before you consider Albemarle, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Albemarle wasn't on the list.
While Albemarle currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
