Chesapeake Capital Corp IL Buys Shares of 2,764 Albemarle Corporation $ALB

Chesapeake Capital Corp IL bought a new stake in Albemarle Corporation (NYSE:ALB) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,764 shares of the specialty chemicals company’s stock, valued at approximately $391,000.

Several other institutional investors also recently bought and sold shares of ALB. AQR Capital Management LLC grew its position in Albemarle by 25.5% in the 1st quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after acquiring an additional 996 shares in the last quarter. United Services Automobile Association acquired a new position in Albemarle in the 1st quarter valued at about $208,000. Empowered Funds LLC acquired a new position in Albemarle in the 1st quarter valued at about $411,000. Finally, EverSource Wealth Advisors LLC grew its position in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 483 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Price Performance

Shares of NYSE ALB opened at $203.72 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.57 and a debt-to-equity ratio of 0.23. Albemarle Corporation has a twelve month low of $53.70 and a twelve month high of $221.00. The stock has a 50 day moving average of $179.56 and a two-hundred day moving average of $154.41. The stock has a market cap of $24.02 billion, a P/E ratio of -59.74, a P/E/G ratio of 1.42 and a beta of 1.36.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, research analysts forecast that Albemarle Corporation will post 8.72 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.405 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.62 dividend on an annualized basis and a yield of 0.8%. Albemarle’s payout ratio is currently -47.51%.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the sale, the chief executive officer owned 134,628 shares in the company, valued at approximately $22,995,808.68. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Key Headlines Impacting Albemarle

Here are the key news stories impacting Albemarle this week:

• Positive Sentiment: Citigroup raised its price target on Albemarle to $225 from $210, suggesting further upside potential even though the rating remained neutral. Benzinga report on Citigroup target hike
• Positive Sentiment: Multiple analysts increased price targets this week, including Wells Fargo, Robert W. Baird, and Mizuho, signaling improving sentiment toward Albemarle’s outlook. Tickerreport.com
• Positive Sentiment: Albemarle beat Q1 estimates with EPS of $2.95 versus $1.24 expected, while revenue also topped forecasts, driven by stronger lithium pricing and volumes. Zacks value-stock article
• Positive Sentiment: Coverage around the earnings call highlighted strong momentum, reinforcing the view that Albemarle’s operating trends improved meaningfully in the quarter. TipRanks earnings call summary
• Neutral Sentiment: One article compared Albemarle with LyondellBasell from a value-investing perspective, but it was more of a relative valuation discussion than a direct catalyst. Zacks comparison article

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ALB shares. JPMorgan Chase & Co. dropped their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Rothschild & Co Redburn downgraded Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 price objective for the company. in a research report on Wednesday, April 22nd. Oppenheimer boosted their price objective on Albemarle from $216.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Royal Bank Of Canada boosted their price objective on Albemarle from $216.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Berenberg Bank set a $153.00 price objective on Albemarle in a research report on Monday, February 23rd. Thirteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $189.04.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.