Teza Capital Management LLC Takes $764,000 Position in Albemarle Corporation $ALB

Key Points

• Teza Capital Management LLC has acquired a new position in Albemarle Corporation worth approximately $764,000, acquiring 10,613 shares in the first quarter.
• Albemarle recently declared a quarterly dividend of $0.405 per share, with an annualized yield of 2.0%, set to be paid on October 1st.
• Analysts have set a consensus price target of $86.47 for Albemarle, with various ratings ranging from "Buy" to "Sell" among them.

Teza Capital Management LLC purchased a new stake in Albemarle Corporation (NYSE:ALB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,613 shares of the specialty chemicals company's stock, valued at approximately $764,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. purchased a new position in Albemarle during the first quarter worth about $32,000. National Pension Service grew its position in 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 buying an additional 193 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Albemarle in the 4th quarter worth about $35,000. Costello Asset Management INC purchased a new position in shares of Albemarle in the 1st quarter worth about $36,000. Finally, Evermay Wealth Management LLC boosted its holdings in shares of Albemarle by 84.1% in the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock worth $48,000 after purchasing an additional 306 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALB. Piper Sandler set a $68.00 price objective on Albemarle and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on Albemarle and gave the stock a "hold" rating in a report on Monday, August 4th. UBS Group upgraded Albemarle from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $62.00 to $89.00 in a report on Tuesday, August 26th. Robert W. Baird upped their price objective on Albemarle from $58.00 to $68.00 and gave the stock an "underperform" rating in a report on Friday, August 29th. Finally, Scotiabank upped their price objective on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Albemarle presently has a consensus rating of "Reduce" and a consensus price target of $86.47.

Albemarle Trading Up 2.7%

NYSE ALB opened at $81.44 on Friday. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $75.71 and a 200-day moving average of $68.11. The firm has a market cap of $9.58 billion, a PE ratio of -8.74 and a beta of 1.65.

Albemarle (NYSE:ALB - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share 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 during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company posted $0.04 EPS. Albemarle's revenue for the quarter was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 is presently -17.38%.

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.

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