U.S. Capital Wealth Advisors LLC Lowers Stock Holdings in Albemarle Corporation $ALB

Key Points

• U.S. Capital Wealth Advisors LLC reduced its stake in Albemarle Corporation by 48.9%, owning 4,704 shares worth approximately $295,000 after selling 4,495 shares in the second quarter.
• Albemarle's latest quarterly earnings showed a better-than-expected EPS of $0.11, surpassing the consensus estimate of (0.83), despite a 7% decline in revenue year-over-year.
• The company's quarterly dividend of $0.405 per share is set to be paid on October 1, 2023, which represents an annual yield of 1.8%.

U.S. Capital Wealth Advisors LLC decreased its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 48.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,704 shares of the specialty chemicals company's stock after selling 4,495 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Albemarle were worth $295,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ALB. SJS Investment Consulting Inc. purchased a new position in shares of Albemarle during the 1st quarter valued at $32,000. National Pension Service lifted its stake in shares of Albemarle by 74.5% during the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company's stock valued at $33,000 after buying an additional 193 shares in the last quarter. Costello Asset Management INC purchased a new position in shares of Albemarle during the 1st quarter valued at $36,000. Evermay Wealth Management LLC lifted its stake in shares of Albemarle by 84.1% during the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 306 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Albemarle by 54.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 727 shares of the specialty chemicals company's stock valued at $52,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ALB. Wells Fargo & Company decreased their price target on shares of Albemarle from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Mizuho set a $76.00 price target on shares of Albemarle in a research note on Tuesday, July 15th. UBS Group upgraded shares of Albemarle from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $62.00 to $89.00 in a research note on Tuesday, August 26th. Scotiabank boosted their price target on shares of Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 price target on shares of Albemarle and gave the stock a "hold" rating in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $85.83.

Albemarle Stock Performance

Shares of NYSE:ALB opened at $88.08 on Friday. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of -9.45 and a beta of 1.65. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The firm's 50-day moving average is $78.78 and its 200 day moving average is $68.50. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.83) by $0.94. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The firm's revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. Research analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 12th. 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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