Albemarle Corporation $ALB Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN lifted its holdings in Albemarle Corporation (NYSE:ALB) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,995 shares of the specialty chemicals company’s stock after purchasing an additional 4,389 shares during the period. OLD National Bancorp IN’s holdings in Albemarle were worth $7,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ALB. Wealth Enhancement Advisory Services LLC raised its stake in shares of Albemarle by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,355 shares of the specialty chemicals company’s stock worth $977,000 after buying an additional 188 shares during the period. GAMMA Investing LLC increased its holdings in Albemarle by 6,393.1% in the 1st quarter. GAMMA Investing LLC now owns 152,394 shares of the specialty chemicals company’s stock worth $10,975,000 after acquiring an additional 150,047 shares in the last quarter. Rhumbline Advisers raised its position in Albemarle by 15.9% during the first quarter. Rhumbline Advisers now owns 240,937 shares of the specialty chemicals company’s stock worth $17,352,000 after acquiring an additional 33,074 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Albemarle by 21.9% during the first quarter. SeaCrest Wealth Management LLC now owns 3,226 shares of the specialty chemicals company’s stock valued at $232,000 after purchasing an additional 580 shares in the last quarter. Finally, Park Avenue Securities LLC grew its position in shares of Albemarle by 21.6% in the first quarter. Park Avenue Securities LLC now owns 7,966 shares of the specialty chemicals company’s stock valued at $574,000 after purchasing an additional 1,414 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Albemarle from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Scotiabank raised their target price on Albemarle from $65.00 to $70.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. KeyCorp reissued a “sector weight” rating on shares of Albemarle in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Albemarle from $60.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Finally, UBS Group raised shares of Albemarle from a “sell” rating to a “neutral” rating and raised their price target for the stock from $62.00 to $89.00 in a research note on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $86.72.

Albemarle Trading Up 0.5%

Shares of ALB opened at $88.06 on Monday. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $113.91. The firm has a market capitalization of $10.36 billion, a P/E ratio of -9.45 and a beta of 1.65. The firm has a 50-day moving average price of $79.19 and a 200 day moving average price of $68.70. 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) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.94. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. 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 previous year, the business posted $0.04 EPS. Albemarle’s revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.62 annualized dividend and a yield of 1.8%. Albemarle’s dividend payout ratio (DPR) is -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.