Eaton Financial Holdings Company LLC Invests $217,000 in Albemarle Corporation $ALB

Eaton Financial Holdings Company LLC acquired a new position in Albemarle Corporation (NYSE:ALB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,458 shares of the specialty chemicals company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also modified their holdings of ALB. Toronto Dominion Bank boosted its stake in Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company’s stock worth $3,414,000 after buying an additional 158 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Albemarle by 1.7% during the fourth 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 in the last quarter. National Pension Service boosted its stake 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. Teachers Retirement System of The State of Kentucky boosted its stake in Albemarle by 2.6% during the first 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 in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Albemarle by 6.7% during the first 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 in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of NYSE:ALB opened at $80.45 on Tuesday. The stock has a market capitalization of $9.47 billion, a P/E ratio of -8.63 and a beta of 1.64. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91. The business has a 50-day moving average price of $77.95 and a two-hundred day moving average price of $68.16. 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 (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.94. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. Equities analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a $0.405 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 2.0%. Albemarle’s payout ratio is currently -17.38%.

Analyst Ratings Changes

ALB has been the topic of several recent analyst reports. Scotiabank boosted their target price on shares of Albemarle from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Mizuho set a $76.00 target price on shares of Albemarle in a research note on Tuesday, July 15th. KeyCorp restated a “sector weight” rating on shares of Albemarle in a research note on Wednesday, July 30th. Robert W. Baird boosted their target price on shares of Albemarle from $58.00 to $68.00 and gave the company an “underperform” rating in a research note on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 target price on shares of Albemarle and gave the company a “hold” rating in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $85.83.

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.