Yousif Capital Management LLC Purchases 10,754 Shares of Albemarle Corporation $ALB

Yousif Capital Management LLC increased its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 12.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 94,916 shares of the specialty chemicals company's stock after acquiring an additional 10,754 shares during the period. Yousif Capital Management LLC owned about 0.08% of Albemarle worth $5,948,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. National Pension Service grew its position in shares of Albemarle by 74.5% in 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 during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Albemarle by 2.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 9,028 shares of the specialty chemicals company's stock worth $650,000 after buying an additional 228 shares during the period. OneDigital Investment Advisors LLC raised its stake in Albemarle by 6.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the specialty chemicals company's stock worth $272,000 after buying an additional 239 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Albemarle by 54.4% in the first quarter. Smartleaf Asset Management LLC now owns 727 shares of the specialty chemicals company's stock worth $52,000 after purchasing an additional 256 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in shares of Albemarle by 6.7% in the first quarter. Empirical Finance LLC now owns 4,244 shares of the specialty chemicals company's stock worth $306,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALB shares. Mizuho increased their price objective on Albemarle from $78.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Robert W. Baird increased their price objective on Albemarle from $58.00 to $68.00 and gave the company an "underperform" rating in a report on Friday, August 29th. Zacks Research raised Albemarle from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price target on Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Finally, Wall Street Zen upgraded Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.41.

Albemarle Trading Down 0.1%

NYSE ALB opened at $96.26 on Wednesday. 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 $82.49 and a 200-day moving average of $69.60. The firm has a market cap of $11.33 billion, a PE ratio of -10.33 and a beta of 1.65. 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 announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.83) by $0.94. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The business's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, September 12th. Albemarle's payout ratio is currently -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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